Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Orca Investment Management LLC

Orca Investment Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,949.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,706 shares of the information services provider’s stock after acquiring an additional 16,842 shares during the period. Alphabet makes up approximately 2.2% of Orca Investment Management LLC’s holdings, making the stock its 16th biggest holding. Orca Investment Management LLC’s holdings in Alphabet were worth $1,694,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. increased its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares in the last quarter. Grand Central Investment Group increased its holdings in Alphabet by 1.4% in the second quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock valued at $789,000 after buying an additional 5 shares in the last quarter. Ignite Planners LLC grew its position in shares of Alphabet by 1.4% in the second quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after purchasing an additional 5 shares during the period. Kaizen Financial Strategies grew its position in shares of Alphabet by 0.7% in the second quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after purchasing an additional 5 shares during the period. Finally, West Family Investments Inc. grew its position in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ann Mather sold 280 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders have purchased 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 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. JMP Securities dropped their target price on shares of Alphabet from $145.00 to $132.00 in a research report on Wednesday, November 23rd. MKM Partners dropped 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. Atlantic Securities dropped their target price on shares of Alphabet to $115.00 in a research report on Thursday, October 27th. Wells Fargo & Company dropped their target price on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Finally, Robert W. Baird dropped their target price on shares of Alphabet to $120.00 in a research report on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Price Performance

Alphabet stock opened at $98.02 on Friday. The company’s 50 day simple moving average is $93.03 and its 200-day simple moving average is $101.55. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. 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 quick ratio of 2.47 and a current ratio of 2.52.

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

Alphabet Company 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.