Alphabet Inc. $GOOG Shares Acquired by Farley Capital L.P.

Farley Capital L.P. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,111 shares of the information services provider’s stock after purchasing an additional 700 shares during the period. Alphabet makes up about 20.1% of Farley Capital L.P.’s holdings, making the stock its 2nd biggest position. Farley Capital L.P.’s holdings in Alphabet were worth $25,564,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Revisor Wealth Management LLC grew its stake in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after purchasing an additional 1,899 shares during the period. GAMMA Investing LLC grew its stake in Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after purchasing an additional 14,931 shares during the period. Primoris Wealth Advisors LLC grew its stake in Alphabet by 0.4% during the first quarter. Primoris Wealth Advisors LLC now owns 16,800 shares of the information services provider’s stock worth $2,625,000 after purchasing an additional 75 shares during the period. Finally, Tranquility Partners LLC grew its stake in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial set a $275.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Friday. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.68.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% 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 ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.7%

GOOG stock opened at $260.51 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $262.51. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $237.33 and its 200-day moving average is $196.66. The firm has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.