Affinity Capital Advisors LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Affinity Capital Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 67.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355 shares of the information services provider’s stock after acquiring an additional 143 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Alphabet were worth $777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. SWS Partners purchased a new stake in shares of Alphabet in the first quarter valued at $28,000. Rational Advisors LLC purchased a new position in Alphabet during the first quarter worth about $28,000. IAG Wealth Partners LLC lifted its position in Alphabet by 120.0% during the first quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock worth $31,000 after buying an additional 6 shares during the period. Rather & Kittrell Inc. purchased a new position in Alphabet during the fourth quarter worth about $34,000. Finally, Westchester Capital Management Inc. purchased a new position in Alphabet during the first quarter worth about $36,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $103.63 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a 1 year low of $101.86 and a 1 year high of $152.10. The firm has a market cap of $1.35 trillion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The stock has a 50-day simple moving average of $113.75 and a 200-day simple moving average of $119.40.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. During the same quarter last year, the business earned $27.26 EPS. On average, equities analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Insiders sold a total of 44,536 shares of company stock worth $15,729,998 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. Barclays set a $150.00 target price on Alphabet in a research report on Thursday, September 8th. Credit Suisse Group set a $143.00 target price on Alphabet in a research report on Tuesday, July 19th. JPMorgan Chase & Co. set a $140.00 target price on Alphabet in a research report on Thursday, July 21st. Cowen reduced their target price on Alphabet from $300.00 to $150.00 in a research report on Monday, July 25th. Finally, Piper Sandler reduced their target price on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.05.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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