Alphabet Inc. $GOOG Position Raised by Family Capital Management Inc.

Family Capital Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,632 shares of the information services provider’s stock after buying an additional 185 shares during the quarter. Family Capital Management Inc.’s holdings in Alphabet were worth $644,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. RDA Financial Network lifted its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the second quarter valued at $213,000. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Dock Street Asset Management Inc. increased its holdings in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after purchasing an additional 1,970 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after purchasing an additional 15,065 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. UBS Group set a $255.00 price target on Alphabet and gave the company a “neutral” rating in a report on Thursday, October 9th. Scotiabank reissued an “outperform” rating and set a $310.00 price target on shares of Alphabet in a report on Thursday, October 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.68.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $260.51 on Friday. The business’s 50-day moving average price is $237.33 and its 200 day moving average price is $196.32. The firm has a market cap of $3.15 trillion, a P/E ratio of 27.74, a PEG ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week 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.

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

Alphabet 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.