Thoroughbred Financial Services LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Thoroughbred Financial Services LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,010.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,223 shares of the information services provider’s stock after buying an additional 57,369 shares during the quarter. Alphabet comprises 1.1% of Thoroughbred Financial Services LLC’s portfolio, making the stock its 17th largest holding. Thoroughbred Financial Services LLC’s holdings in Alphabet were worth $5,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. OLD Second National Bank of Aurora grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. NewSquare Capital LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares in the last quarter. Schubert & Co grew its holdings in shares of Alphabet by 1,192.9% during the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after purchasing an additional 334 shares in the last quarter. Finally, Corsicana & Co. grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Price Performance

GOOG opened at $99.28 on Friday. The stock has a fifty day simple moving average of $93.52 and a two-hundred day simple moving average of $102.16. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data 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 firm had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. Research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value 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 $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value 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 $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cowen cut their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Cowen cut their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. JPMorgan Chase & Co. set a $115.00 target price on Alphabet in a research note on Wednesday, October 26th. Raymond James cut their target price on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Credit Suisse Group set a $128.00 target price on Alphabet in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $140.56.

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.