Acas LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOG)

Acas LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 120 shares of the information services provider’s stock, valued at approximately $248,000.

Several other large investors also recently made changes to their positions in the stock. Resolute Partners Group acquired a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Mascoma Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $27,000. Better Money Decisions LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $27,000. Brand Asset Management Group Inc. grew its stake in Alphabet by 200.0% during the 1st quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 10 shares in the last quarter. Finally, ADE LLC acquired a new stake in Alphabet during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 31.94% of the company’s stock.

In related news, SVP John Kent Walker sold 2,570 shares of Alphabet stock in a transaction on Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total value of $5,235,963.80. Following the transaction, the senior vice president now directly owns 26,707 shares in the company, valued at approximately $54,411,239.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of Alphabet stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the completion of the transaction, the chief executive officer now owns 6,757 shares in the company, valued at $13,976,854.50. The disclosure for this sale can be found here. Insiders sold a total of 41,036 shares of company stock worth $91,551,013 over the last 90 days. Insiders own 12.99% of the company’s stock.

GOOG opened at $2,316.16 on Friday. Alphabet Inc. has a one year low of $1,339.00 and a one year high of $2,452.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The stock’s fifty day moving average is $2,265.68 and its 200-day moving average is $1,969.58. The company has a market capitalization of $1.55 trillion, a PE ratio of 44.76, a P/E/G ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $15.74 by $10.55. The business had revenue of $55.30 billion for the quarter, compared to analysts’ expectations of $51.40 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.87 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

A number of equities research analysts have weighed in on GOOG shares. Evercore ISI restated an “outperform” rating and set a $2,525.00 price objective on shares of Alphabet in a research note on Tuesday, April 13th. Wolfe Research initiated coverage on Alphabet in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Morgan Stanley lifted their target price on Alphabet from $2,050.00 to $2,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Finally, Cowen boosted their price objective on Alphabet from $2,600.00 to $2,700.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $2,495.63.

Alphabet Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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