Spinnaker Investment Group LLC Acquires 3,395 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Spinnaker Investment Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,716.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,520 shares of the information services provider’s stock after acquiring an additional 3,395 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Financial Enhancement Group LLC acquired a new position in Alphabet in the first quarter valued at about $31,000. Horizons Wealth Management acquired a new position in Alphabet in the second quarter valued at about $33,000. Schubert & Co boosted its position in Alphabet by 1,200.0% in the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after buying an additional 336 shares in the last quarter. Carolina Wealth Advisors LLC boosted its position in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after buying an additional 380 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its position in Alphabet by 72.7% in the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after buying an additional 8 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was purchased at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the purchase, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $88.42 on Wednesday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm has a market cap of $1.14 trillion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.53 and a beta of 1.09. The company has a fifty day moving average price of $92.47 and a 200-day moving average price of $102.65.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same period last year, the company earned $1.40 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. KeyCorp reduced their price target on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Credit Suisse Group reduced their target price on shares of Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. JMP Securities reduced their target price on shares of Alphabet from $145.00 to $132.00 in a research report on Wednesday, November 23rd. MKM Partners reduced their target price on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Finally, Sanford C. Bernstein reduced their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Alphabet Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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