Fulcrum Capital LLC Purchases New Stake in Alphabet Inc. $GOOGL

Fulcrum Capital LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 106,470 shares of the information services provider’s stock, valued at approximately $18,763,000. Alphabet accounts for about 4.0% of Fulcrum Capital LLC’s holdings, making the stock its 6th largest position.

Several other large investors have also recently bought and sold shares of GOOGL. Brighton Jones LLC raised its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC raised its position in Alphabet by 10.5% during the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after buying an additional 9,900 shares during the period. Compass Ion Advisors LLC raised its position in Alphabet by 0.6% during the first quarter. Compass Ion Advisors LLC now owns 11,761 shares of the information services provider’s stock valued at $1,819,000 after buying an additional 72 shares during the period. Finally, Segment Wealth Management LLC raised its position in Alphabet by 6.4% during the first quarter. Segment Wealth Management LLC now owns 87,505 shares of the information services provider’s stock valued at $13,532,000 after buying an additional 5,286 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GOOGL shares. DA Davidson upped their target price on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Piper Sandler upped their target price on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Tigress Financial upped their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. BMO Capital Markets set a $294.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $257.60.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $250.46 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.03 trillion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.74 and a beta of 1.00. The business’s 50-day simple moving average is $233.60 and its 200-day simple moving average is $193.31. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $257.33.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

About Alphabet

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.