Alphabet Inc. $GOOGL is Alta Capital Management LLC’s 3rd Largest Position

Alta Capital Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,763 shares of the information services provider’s stock after purchasing an additional 2,443 shares during the quarter. Alphabet makes up about 5.8% of Alta Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Alta Capital Management LLC’s holdings in Alphabet were worth $101,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter worth about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group upped their price target on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Roth Capital increased their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Friday. Bank of America increased their target price on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $263.55.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $259.92 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68. 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 stock has a market cap of $3.14 trillion, a PE ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00. The stock has a 50 day moving average price of $236.72 and a 200 day moving average price of $195.85.

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