Alphabet Inc. (NASDAQ:GOOGL) is 7G Capital Management LLC’s 6th Largest Position

7G Capital Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 4,525.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,500 shares of the information services provider’s stock after purchasing an additional 90,500 shares during the period. Alphabet comprises 5.7% of 7G Capital Management LLC’s portfolio, making the stock its 6th largest holding. 7G Capital Management LLC’s holdings in Alphabet were worth $8,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Horizons Wealth Management bought a new position in shares of Alphabet during the second quarter worth $33,000. Schubert & Co boosted its position in shares of Alphabet by 1,200.0% during the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after acquiring an additional 336 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after acquiring an additional 380 shares during the last quarter. Finally, Cardinal Capital Management Inc. bought a new position in shares of Alphabet during the second quarter worth $41,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is owned by company insiders.

Alphabet Stock Down 0.9 %

Alphabet stock opened at $91.29 on Wednesday. The business has a fifty day moving average of $92.94 and a two-hundred day moving average of $101.88. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.18 trillion, a P/E ratio of 18.13, a P/E/G ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter in the prior year, the company earned $1.40 EPS. On average, analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GOOGL shares. Truist Financial dropped their target price on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. MKM Partners lowered their price objective on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. The Goldman Sachs Group lowered their price objective on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. Citigroup lowered their price objective on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Finally, Evercore ISI lowered their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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