Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by NinePointTwo Capital LLC

NinePointTwo Capital LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,900.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,420 shares of the information services provider’s stock after acquiring an additional 5,149 shares during the quarter. Alphabet makes up 0.2% of NinePointTwo Capital LLC’s portfolio, making the stock its 28th biggest holding. NinePointTwo Capital LLC’s holdings in Alphabet were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. Bornite Capital Management LP purchased a new stake in shares of Alphabet in the first quarter valued at $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its position in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock opened at $90.63 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $94.19 and its 200-day simple moving average is $96.71. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.27 and a beta of 1.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the company posted $1.53 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Evercore ISI lowered their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. New Street Research began coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Barclays upped their target price on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Mizuho decreased their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $132.32.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 in the last three months. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.