Alta Capital Management LLC Buys 5,198 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alta Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,721.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,500 shares of the information services provider’s stock after acquiring an additional 5,198 shares during the quarter. Alta Capital Management LLC’s holdings in Alphabet were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GOOG. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares during the last quarter. Somerville Kurt F raised its position in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the last quarter. BCK Partners Inc. bought a new position in shares of Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. raised its position in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. increased its holdings in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Sanford C. Bernstein set a $120.00 target price on Alphabet in a report on Thursday. UBS Group set a $115.00 target price on Alphabet in a report on Thursday. Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Monday, January 9th. Cowen lowered their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Oppenheimer lowered their target price on Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $141.88.

Alphabet Stock Up 1.0 %

Shares of NASDAQ:GOOG opened at $92.80 on Friday. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.61 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The business’s 50 day moving average is $93.23 and its 200 day moving average is $102.78.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same period in the prior year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares in the company, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 12.99% of the company’s stock.

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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