Allen Capital Group LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Allen Capital Group LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,999 shares of the information services provider's stock after purchasing an additional 3,510 shares during the quarter. Allen Capital Group LLC's holdings in Alphabet were worth $7,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Theory Financial LLC grew its holdings in shares of Alphabet by 10.4% during the 1st quarter. Theory Financial LLC now owns 2,124 shares of the information services provider's stock valued at $328,000 after purchasing an additional 200 shares during the last quarter. SKY Mountain Capital Management Inc. bought a new position in shares of Alphabet in the 1st quarter valued at $644,000. LMG Wealth Partners LLC grew its position in Alphabet by 3.8% during the 1st quarter. LMG Wealth Partners LLC now owns 11,538 shares of the information services provider's stock worth $1,784,000 after acquiring an additional 426 shares during the last quarter. Triasima Portfolio Management inc. increased its holdings in Alphabet by 9.0% in the 1st quarter. Triasima Portfolio Management inc. now owns 56,291 shares of the information services provider's stock worth $8,705,000 after purchasing an additional 4,667 shares in the last quarter. Finally, Kintayl Capital LP bought a new stake in shares of Alphabet during the first quarter worth about $394,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL stock traded up $1.94 during mid-day trading on Thursday, reaching $192.17. 74,740,490 shares of the company traded hands, compared to its average volume of 39,272,972. The company has a fifty day moving average price of $175.23 and a 200-day moving average price of $173.10. The company has a market capitalization of $2.33 trillion, a P/E ratio of 20.47, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same quarter last year, the business posted $1.89 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last three months. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOGL shares. Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday. DA Davidson increased their price target on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays raised their price objective on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wedbush increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.32.

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.