Money Concepts Capital Corp Buys 22,526 Shares of Alphabet Inc. (NASDAQ:GOOG)

Money Concepts Capital Corp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,604.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,391 shares of the information services provider’s stock after acquiring an additional 22,526 shares during the quarter. Money Concepts Capital Corp’s holdings in Alphabet were worth $2,249,000 at the end of the most recent quarter.

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

Alphabet Stock Performance

NASDAQ GOOG opened at $93.91 on Friday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The company has a 50-day simple moving average of $93.47 and a 200 day simple moving average of $102.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.22 trillion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Raymond James dropped their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Piper Sandler dropped their price objective on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Cowen dropped their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Finally, Oppenheimer dropped their price objective on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.56.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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