Purkiss Capital Advisors LLC Acquires 924 Shares of Alphabet Inc. $GOOG

Purkiss Capital Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,151 shares of the information services provider’s stock after buying an additional 924 shares during the quarter. Alphabet makes up approximately 1.3% of Purkiss Capital Advisors LLC’s portfolio, making the stock its 12th largest holding. Purkiss Capital Advisors LLC’s holdings in Alphabet were worth $2,333,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC increased its stake in shares of Alphabet by 580,897.4% during the 2nd 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 purchasing an additional 135,064,454 shares during the last quarter. Nuveen LLC bought a new position in Alphabet during the first quarter valued at $2,622,943,000. Vanguard Group Inc. increased its position in Alphabet by 2.4% in 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 buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio bought a new stake in shares of Alphabet in the first quarter valued at $369,713,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, DA Davidson set a $825.00 price objective on shares of Alphabet in a research note on Monday. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $297.56.

Alphabet Price Performance

GOOG stock opened at $275.17 on Thursday. The firm has a 50 day moving average of $241.46 and a 200-day moving average of $199.27. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $275.97. The firm has a market capitalization of $3.33 trillion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same quarter last year, the firm posted $2.12 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’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 sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by company insiders.

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.