Custom Index Systems LLC Makes New $1.61 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Custom Index Systems LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,504 shares of the information services provider’s stock, valued at approximately $1,607,000. Alphabet makes up about 1.0% of Custom Index Systems LLC’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds have also bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new position in shares of Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp raised its stake in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the period. United Bank raised its stake in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management raised its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $155.47 on Thursday. The stock has a market cap of $1.93 trillion, a PE ratio of 26.81, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The stock has a fifty day simple moving average of $145.95 and a 200-day simple moving average of $140.29.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period last year, the business posted $1.05 EPS. Equities analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. KeyCorp increased their price objective on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price objective (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Mizuho increased their price objective on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.00.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last three months. 0.88% of the stock is owned by company insiders.

About Alphabet

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.