Solstein Capital LLC Has $3.14 Million Stock Holdings in Alphabet Inc. $GOOG

Solstein Capital LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,699 shares of the information services provider’s stock after buying an additional 283 shares during the quarter. Alphabet accounts for approximately 1.5% of Solstein Capital LLC’s investment portfolio, making the stock its 15th largest position. Solstein Capital LLC’s holdings in Alphabet were worth $3,140,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth about $26,000. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its position in shares of Alphabet by 60.0% during the second 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 lifted its stake in shares of Alphabet by 58.7% in the second 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 period. Finally, Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.6%

GOOG opened at $268.43 on Wednesday. The company has a fifty day moving average price of $239.97 and a two-hundred day moving average price of $198.46. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $271.38. The company has a market cap of $3.25 trillion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 1.82 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.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 over the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOG. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Morgan Stanley upped their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, Oppenheimer set a $300.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.45.

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.