Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Hollencrest Capital Management

Hollencrest Capital Management lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,901.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,565 shares of the information services provider’s stock after acquiring an additional 27,138 shares during the period. Hollencrest Capital Management’s holdings in Alphabet were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunflower Bank N.A. lifted its stake in Alphabet by 1,761.5% during the 3rd quarter. Sunflower Bank N.A. now owns 9,922 shares of the information services provider’s stock valued at $954,000 after acquiring an additional 9,389 shares during the period. Symphony Financial Ltd. Co. raised its stake in shares of Alphabet by 1,921.7% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 28,870 shares of the information services provider’s stock valued at $2,832,000 after buying an additional 27,442 shares during the last quarter. Elite Wealth Management Inc. lifted its holdings in shares of Alphabet by 1,571.6% in the 3rd quarter. Elite Wealth Management Inc. now owns 15,696 shares of the information services provider’s stock valued at $1,509,000 after buying an additional 14,757 shares during the period. Newport Capital Group LLC boosted its stake in shares of Alphabet by 1,906.7% in the third quarter. Newport Capital Group LLC now owns 2,709 shares of the information services provider’s stock worth $542,000 after buying an additional 2,574 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its holdings in Alphabet by 1,844.4% during the third quarter. Walkner Condon Financial Advisors LLC now owns 13,183 shares of the information services provider’s stock worth $1,268,000 after acquiring an additional 12,505 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOG shares. Sanford C. Bernstein set a $120.00 target price on shares of Alphabet in a report on Thursday, January 12th. Piper Sandler cut their price objective on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Credit Suisse Group set a $128.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. Raymond James cut their price target on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Monday, January 9th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.56.

Insider Activity

In related news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 277,493 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average cost of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the acquisition, the insider now owns 870,895 shares in the company, valued at approximately $31,360,928.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 280 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $99.28 on Monday. The stock has a market cap of $1.28 trillion, a PE ratio of 19.72, a P/E/G ratio of 1.74 and a beta of 1.08. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The stock has a fifty day simple moving average of $93.52 and a 200-day simple moving average of $102.16. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results 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). The company had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. Alphabet’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.40 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

About Alphabet

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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.