Asio Capital LLC Purchases 70,495 Shares of Alphabet Inc. (NASDAQ:GOOG)

Asio Capital LLC raised its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,976.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 74,062 shares of the information services provider’s stock after purchasing an additional 70,495 shares during the period. Alphabet accounts for approximately 2.3% of Asio Capital LLC’s portfolio, making the stock its 7th largest position. Asio Capital LLC’s holdings in Alphabet were worth $7,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ignite Planners LLC lifted its holdings in Alphabet by 4.7% during the second quarter. Ignite Planners LLC now owns 134 shares of the information services provider’s stock valued at $320,000 after purchasing an additional 6 shares during the last quarter. Financial Advisors Network Inc. lifted its holdings in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. McAdam LLC lifted its holdings in Alphabet by 2.8% during the second quarter. McAdam LLC now owns 294 shares of the information services provider’s stock valued at $643,000 after purchasing an additional 8 shares during the last quarter. Finally, West Michigan Advisors LLC lifted its holdings in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Stock Up 5.7 %

Shares of Alphabet stock opened at $99.28 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.63 and a beta of 1.08. The company’s 50 day moving average price is $93.52 and its 200-day moving average price is $102.16.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GOOG shares. Societe Generale lowered their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Monday, January 9th. Sanford C. Bernstein set a $120.00 price target on shares of Alphabet in a report on Thursday, January 12th. Cowen lowered their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, UBS Group set a $115.00 price target on shares of Alphabet in a report on Thursday, January 12th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.56.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction dated Monday, October 24th. The shares were purchased 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 $195,878,216. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were 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 directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Company insiders own 12.99% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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