Next Capital Management LLC Acquires 3,105 Shares of Alphabet Inc. $GOOG

Next Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 84.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,784 shares of the information services provider’s stock after buying an additional 3,105 shares during the period. Next Capital Management LLC’s holdings in Alphabet were worth $1,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley increased its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC increased its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC increased its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of GOOG stock opened at $278.06 on Wednesday. The stock’s fifty day simple moving average is $247.49 and its 200 day simple moving average is $203.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 190,896 shares of company stock worth $45,092,175 in the last three months. Company insiders own 12.99% of the company’s stock.

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.