Sandy Cove Advisors LLC Acquires 140 Shares of Alphabet Inc. (NASDAQ:GOOG)

Sandy Cove Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,247 shares of the information services provider’s stock after buying an additional 140 shares during the period. Sandy Cove Advisors LLC’s holdings in Alphabet were worth $338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Totem Point Management LLC grew its holdings in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares during the period. Somerville Kurt F grew its holdings in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the period. BCK Partners Inc. acquired a new position in Alphabet during the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. grew its holdings in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the period. Finally, Fairfield Bush & CO. grew its holdings in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the period. 27.13% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $137.20 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $138.58. The firm has a fifty day simple moving average of $128.54 and a 200 day simple moving average of $116.49. The stock has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.56 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $14.87, for a total transaction of $430,635.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The transaction 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 sold 28,960 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total transaction of $430,635.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,020 shares of company stock worth $13,551,820. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOG shares. Susquehanna boosted their price objective on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird boosted their price objective on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a report on Monday, August 21st. They issued an “outperform” rating for the company. Finally, Oppenheimer upped their price target on shares of Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $130.94.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.