Alphabet Inc. $GOOG is Intellectus Partners LLC’s 4th Largest Position

Intellectus Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 73,777 shares of the information services provider’s stock after purchasing an additional 1,441 shares during the quarter. Alphabet accounts for about 2.8% of Intellectus Partners LLC’s holdings, making the stock its 4th biggest holding. Intellectus Partners LLC’s holdings in Alphabet were worth $13,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% in the 2nd 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 during the period. Nuveen LLC purchased a new stake in shares of Alphabet in the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% in 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 purchasing an additional 9,243,959 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Alphabet in the 1st quarter worth about $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,442 shares of company stock worth $51,200,307 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. Wolfe Research raised their target price on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday. Morgan Stanley lifted 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. Jefferies Financial Group lifted their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Up 0.8%

NASDAQ:GOOG opened at $284.12 on Tuesday. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.02, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93. The firm has a 50-day simple moving average of $246.09 and a two-hundred day simple moving average of $202.22.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $2.12 EPS. Analysts predict that Alphabet Inc. will post 8.89 earnings per share 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.