SKY Mountain Capital Management Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

SKY Mountain Capital Management Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,163 shares of the information services provider's stock, valued at approximately $644,000. Alphabet accounts for approximately 0.5% of SKY Mountain Capital Management Inc.'s portfolio, making the stock its 19th biggest holding.

A number of other large investors also recently made changes to their positions in GOOGL. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter worth $39,000. Elite Financial Inc. acquired a new position in Alphabet during the first quarter worth $42,000. Anderson Financial Strategies LLC bought a new position in Alphabet during the fourth quarter valued at about $49,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet in the first quarter worth about $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock worth $43,523,710 over the last ninety days. Insiders own 11.64% of the company's stock.

Alphabet Trading Up 1.0%

Shares of GOOGL stock traded up $1.94 on Thursday, hitting $192.17. The stock had a trading volume of 74,740,490 shares, compared to its average volume of 39,272,972. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a fifty day moving average price of $175.23 and a two-hundred day moving average price of $173.10. The firm has a market cap of $2.33 trillion, a P/E ratio of 20.47, a PEG ratio of 1.33 and a beta of 1.00.

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

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday. Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.32.

Alphabet Company 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.