Alphabet Inc. $GOOG Shares Bought by Cloud Capital Management LLC

Cloud Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,272 shares of the information services provider’s stock after buying an additional 308 shares during the period. Alphabet accounts for about 2.7% of Cloud Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Cloud Capital Management LLC’s holdings in Alphabet were worth $4,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in Alphabet in the first quarter worth about $2,622,943,000. Vanguard Group Inc. grew its position in 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 buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. DA Davidson set a $825.00 price objective on Alphabet in a research note on Monday, October 27th. HSBC restated a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Sanford C. Bernstein lifted their target price on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $324.81.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,896 shares of company stock worth $44,892,175 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $285.34 on Friday. The stock’s fifty day simple moving average is $250.48 and its 200 day simple moving average is $204.23. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.