Farley Capital L.P. Raises Holdings in Alphabet Inc. $GOOG

Farley Capital L.P. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,111 shares of the information services provider’s stock after acquiring an additional 700 shares during the quarter. Alphabet makes up about 20.1% of Farley Capital L.P.’s holdings, making the stock its 2nd largest position. Farley Capital L.P.’s holdings in Alphabet were worth $25,564,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter valued at $26,000. IFS Advisors LLC raised its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the period. Finally, Fairman Group LLC raised its stake in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s 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 transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $260.51 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $262.51. The business has a 50-day simple moving average of $237.33 and a 200 day simple moving average of $196.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GOOG shares. Morgan Stanley boosted their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Friday. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Six investment 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 issued a Sell rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $249.68.

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.