Franchise Capital Ltd Purchases 50,835 Shares of Alphabet Inc. (NASDAQ:GOOG)

Franchise Capital Ltd boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 601.5% during the 3rd quarter, Holdings Channel reports. The fund owned 59,286 shares of the information services provider’s stock after buying an additional 50,835 shares during the period. Alphabet makes up 2.5% of Franchise Capital Ltd’s portfolio, making the stock its 12th largest holding. Franchise Capital Ltd’s holdings in Alphabet were worth $5,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Financial Advisors Network Inc. boosted its holdings in shares of Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. boosted its holdings in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the period. West Michigan Advisors LLC boosted its holdings in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the period. Somerville Kurt F boosted its holdings in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its holdings in shares of Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares during the period. Institutional investors own 28.69% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $94.25 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $94.96 and its 200-day moving average price is $96.85. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The stock has a market cap of $1.21 trillion, a P/E ratio of 20.71, a P/E/G ratio of 1.26 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOOG shares. Raymond James lifted their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Bank of America lifted their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Cowen decreased their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, UBS Group set a $120.00 price target on Alphabet in a report on Monday, February 6th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

About Alphabet

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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.