Alta Capital Management LLC Has $3.62 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Alta Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 354.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,650 shares of the information services provider’s stock after purchasing an additional 20,000 shares during the period. Alta Capital Management LLC’s holdings in Alphabet were worth $3,615,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its position in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Bank of New York Mellon Corp grew its position in Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after acquiring an additional 54,077,519 shares during the last quarter. Norges Bank bought a new position in Alphabet in the 4th quarter worth $3,059,614,000. Morgan Stanley boosted its position in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOG opened at $155.87 on Wednesday. The firm has a 50-day moving average of $145.15 and a two-hundred day moving average of $139.74. Alphabet Inc. has a 1-year low of $102.38 and a 1-year high of $157.00. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 228,239 shares of company stock valued at $32,432,382 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $146.33.

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.