Alphabet Inc. $GOOG Shares Purchased by FLC Capital Advisors

FLC Capital Advisors boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,695 shares of the information services provider’s stock after purchasing an additional 279 shares during the quarter. FLC Capital Advisors’ holdings in Alphabet were worth $4,026,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $26,000. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley increased its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC increased its stake in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Fairman Group LLC increased its stake in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. UBS Group set a $255.00 target price on Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 9th. TD Cowen raised their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Oppenheimer set a $300.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Monday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.26.

Alphabet Stock Performance

NASDAQ GOOG opened at $252.53 on Thursday. The stock has a market cap of $3.05 trillion, a PE ratio of 26.89, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.88. The stock has a fifty day simple moving average of $235.22 and a 200-day simple moving average of $194.81.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.