Townsquare Capital LLC Acquires Shares of 6,919 Alphabet Inc (NASDAQ:GOOG)

Townsquare Capital LLC acquired a new stake in Alphabet Inc (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,919 shares of the information services provider’s stock, valued at approximately $7,929,000. Alphabet accounts for 1.0% of Townsquare Capital LLC’s holdings, making the stock its 20th biggest position.

Several other large investors have also recently modified their holdings of the company. Diversified Trust Co raised its position in shares of Alphabet by 0.7% in the 3rd quarter. Diversified Trust Co now owns 1,508 shares of the information services provider’s stock worth $1,800,000 after buying an additional 10 shares during the period. Bath Savings Trust Co increased its position in shares of Alphabet by 4.1% during the fourth quarter. Bath Savings Trust Co now owns 256 shares of the information services provider’s stock worth $265,000 after acquiring an additional 10 shares during the last quarter. Hemenway Trust Co LLC grew its stake in Alphabet by 2.9% in the fourth quarter. Hemenway Trust Co LLC now owns 358 shares of the information services provider’s stock worth $371,000 after purchasing an additional 10 shares in the last quarter. TD Capital Management LLC grew its stake in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares in the last quarter. Finally, Meristem Family Wealth LLC grew its stake in Alphabet by 1.5% in the fourth quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock worth $715,000 after purchasing an additional 10 shares in the last quarter. 33.99% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. Credit Suisse Group restated a “sell” rating on shares of Alphabet in a research note on Wednesday, May 15th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,399.00 price target on the stock in a report on Wednesday, April 24th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, February 12th. Deutsche Bank lifted their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, BidaskClub raised Alphabet from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $1,361.50.

In other Alphabet news, Director Ann Mather sold 39 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $1,182.00, for a total value of $46,098.00. Following the transaction, the director now owns 1,797 shares of the company’s stock, valued at $2,124,054. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $404,645.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 423 shares of company stock worth $494,939. 13.11% of the stock is owned by corporate insiders.

Shares of NASDAQ:GOOG opened at $1,078.72 on Wednesday. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,289.27. The company has a market cap of $740.09 billion, a P/E ratio of 22.71, a PEG ratio of 1.26 and a beta of 1.03. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $10.51 by $1.39. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm had revenue of $36.34 billion for the quarter, compared to analysts’ expectations of $37.36 billion. During the same quarter in the previous year, the company earned $9.93 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.

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Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: Cost of Capital

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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