Wallington Asset Management LLC Buys 4,312 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wallington Asset Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,004 shares of the information services provider’s stock after acquiring an additional 4,312 shares during the period. Alphabet accounts for about 1.9% of Wallington Asset Management LLC’s portfolio, making the stock its 20th biggest position. Wallington Asset Management LLC’s holdings in Alphabet were worth $13,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC raised its position in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares in the last quarter. PCG Wealth Advisors LLC raised its position in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its position in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV raised its position in shares of Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $164.53 on Friday. The firm has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $163.28 and a 200-day moving average of $169.92. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on GOOG shares. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

About Alphabet

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.