Absolute Capital Management LLC Acquires 7,618 Shares of Alphabet Inc. (NASDAQ:GOOG)

Absolute Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,367.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,175 shares of the information services provider’s stock after purchasing an additional 7,618 shares during the period. Alphabet comprises approximately 1.0% of Absolute Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Absolute Capital Management LLC’s holdings in Alphabet were worth $786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. OLD Second National Bank of Aurora lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the last quarter. Schubert & Co lifted its stake in shares of Alphabet by 1,192.9% in the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 334 shares during the last quarter. Finally, Corsicana & Co. lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were acquired at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the transaction, the insider now owns 11,522,248 shares in the company, valued at $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $93.91 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The stock has a 50-day moving average of $93.47 and a 200-day moving average of $102.22. The company has a market cap of $1.22 trillion, a PE ratio of 18.65, a P/E/G ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOG shares. The Goldman Sachs Group set a $135.00 price target on Alphabet in a research note on Friday, November 18th. Oppenheimer dropped their price target on Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price objective on Alphabet in a report on Thursday, January 12th. Raymond James decreased their price objective on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Piper Sandler decreased their price objective on Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.