McLean Asset Management Corp Acquires 548 Shares of Alphabet Inc. (NASDAQ:GOOG)

McLean Asset Management Corp lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,953 shares of the information services provider’s stock after acquiring an additional 548 shares during the quarter. McLean Asset Management Corp’s holdings in Alphabet were worth $1,134,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. lifted its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in Alphabet during the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.1 %

Shares of NASDAQ GOOG opened at $197.18 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50-day moving average of $188.64 and a 200 day moving average of $175.20. The stock has a market cap of $2.41 trillion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,887 shares of company stock valued at $22,470,464. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.