Guggenheim Capital LLC Purchases 1,018,115 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Guggenheim Capital LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,865.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,072,704 shares of the information services provider’s stock after acquiring an additional 1,018,115 shares during the quarter. Alphabet comprises about 0.9% of Guggenheim Capital LLC’s portfolio, making the stock its 6th largest holding. Guggenheim Capital LLC’s holdings in Alphabet were worth $102,605,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet during the first quarter worth $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the first quarter valued at $206,000. Eudaimonia Advisors LLC increased its holdings in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet in the first quarter worth about $281,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ GOOGL opened at $90.63 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.25 and a beta of 1.09. The firm has a 50 day simple moving average of $94.19 and a 200-day simple moving average of $96.59. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business 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 last year, the company earned $1.53 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOGL. Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Mizuho decreased their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Morgan Stanley boosted their target price on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.32.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,745 shares of company stock worth $3,424,078. Company insiders own 11.44% of the company’s stock.

Alphabet Profile

(Get Rating)

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.