Mitchell Capital Management Co. Increases Stock Position in Alphabet Inc. $GOOGL

Mitchell Capital Management Co. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,594 shares of the information services provider’s stock after acquiring an additional 80 shares during the period. Mitchell Capital Management Co.’s holdings in Alphabet were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler boosted their price objective on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Royal Bank Of Canada boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $210.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday. Four equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.12.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $253.08 on Friday. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $235.60 and its two-hundred day moving average is $194.45. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $257.33.

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

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