Rossby Financial LCC Purchases 538 Shares of Alphabet Inc. $GOOG

Rossby Financial LCC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,051 shares of the information services provider’s stock after purchasing an additional 538 shares during the period. Alphabet makes up approximately 0.8% of Rossby Financial LCC’s holdings, making the stock its 25th largest holding. Rossby Financial LCC’s holdings in Alphabet were worth $2,138,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Deutsche Bank AG grew its stake in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after purchasing an additional 440,526 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 2.5%

Shares of GOOG opened at $275.17 on Thursday. The business’s 50 day simple moving average is $241.46 and its 200-day simple moving average is $199.27. Alphabet Inc. has a one year low of $142.66 and a one year high of $275.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.33 trillion, a P/E ratio of 29.30, a PEG ratio of 1.81 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $297.56.

Alphabet 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.