Alphabet Inc. $GOOG Shares Acquired by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors LLC increased its holdings in Alphabet Inc. by 25.1% during Q2, now owning 20,046 shares valued at approximately $3.56 million.
• Several institutional investors made notable adjustments, with Kingstone Capital Partners Texas LLC boosting its position by a staggering 580,897.4%, acquiring 135,064,454 additional shares.
• Insiders, including CAO Amie Thuener O'toole and CEO Sundar Pichai, have recently sold shares, indicating a 1.34% and 13.84% decrease in their holdings, respectively.

Steel Grove Capital Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,046 shares of the information services provider's stock after purchasing an additional 4,023 shares during the quarter. Alphabet makes up approximately 0.4% of Steel Grove Capital Advisors LLC's portfolio, making the stock its 26th largest holding. Steel Grove Capital Advisors LLC's holdings in Alphabet were worth $3,556,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOG. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second 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 acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new stake in Alphabet during the first quarter worth approximately $2,622,943,000. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Alphabet during the first quarter worth approximately $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The shares were 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. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were 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 approximately $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $260.51 on Friday. 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 company has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $262.51. The firm's 50 day moving average is $237.33 and its two-hundred day moving average is $196.32.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Ratings Changes

GOOG has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $249.68.

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.

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