Alphabet Inc. (NASDAQ:GOOG) Position Increased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,596 shares of the information services provider’s stock after buying an additional 313 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Alphabet were worth $4,254,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Hollencrest Capital Management raised its holdings in Alphabet by 13.9% during the third quarter. Hollencrest Capital Management now owns 1,478 shares of the information services provider’s stock valued at $3,939,000 after buying an additional 180 shares in the last quarter. WestHill Financial Advisors Inc. acquired a new stake in shares of Alphabet in the third quarter valued at about $267,000. Alpha Omega Wealth Management LLC grew its position in shares of Alphabet by 2.1% in the third quarter. Alpha Omega Wealth Management LLC now owns 928 shares of the information services provider’s stock valued at $2,473,000 after purchasing an additional 19 shares during the last quarter. Everhart Financial Group Inc. grew its position in shares of Alphabet by 2.8% in the third quarter. Everhart Financial Group Inc. now owns 331 shares of the information services provider’s stock valued at $882,000 after purchasing an additional 9 shares during the last quarter. Finally, Teamwork Financial Advisors LLC grew its position in shares of Alphabet by 56.1% in the third quarter. Teamwork Financial Advisors LLC now owns 192 shares of the information services provider’s stock valued at $512,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 31.26% of the company’s stock.

In other news, CAO Amie Thuener O’toole sold 48 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $2,913.00, for a total value of $139,824.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Kent Walker sold 2,497 shares of the business’s stock in a transaction on Wednesday, September 29th. The shares were sold at an average price of $2,700.01, for a total transaction of $6,741,924.97. The disclosure for this sale can be found here. Insiders sold a total of 222,928 shares of company stock valued at $501,867,436 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $3,089.00 price target on the stock in a research report on Thursday, October 14th. KeyCorp raised their price target on Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Mizuho lifted their target price on Alphabet from $2,800.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Canaccord Genuity lifted their target price on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, UBS Group reissued a “buy” rating and set a $3,190.00 target price on shares of Alphabet in a research report on Tuesday, August 10th. Two research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $3,178.21.

GOOG stock opened at $2,934.35 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. The company has a 50 day moving average price of $2,859.80 and a 200 day moving average price of $2,705.14. Alphabet Inc. has a fifty-two week low of $1,699.00 and a fifty-two week high of $3,037.00. The stock has a market capitalization of $1.95 trillion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, topping the consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The firm had revenue of $65.12 billion during the quarter, compared to analysts’ expectations of $63.35 billion. During the same quarter in the previous year, the company posted $16.40 EPS. Alphabet’s revenue was up 41.0% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 107.86 earnings per share for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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