AM Investment Strategies LLC Buys 218 Shares of Alphabet Inc. (NASDAQ:GOOG)

AM Investment Strategies LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,299 shares of the information services provider’s stock after acquiring an additional 218 shares during the period. Alphabet accounts for about 3.9% of AM Investment Strategies LLC’s investment portfolio, making the stock its 4th biggest position. AM Investment Strategies LLC’s holdings in Alphabet were worth $16,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Magnolia Capital Advisors LLC boosted its position in Alphabet by 8.6% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 11,195 shares of the information services provider’s stock valued at $2,053,000 after buying an additional 884 shares during the last quarter. Wallace Advisory Group LLC boosted its holdings in Alphabet by 1.3% in the second quarter. Wallace Advisory Group LLC now owns 10,314 shares of the information services provider’s stock valued at $1,892,000 after acquiring an additional 134 shares during the last quarter. High Falls Advisors Inc acquired a new stake in Alphabet in the second quarter worth about $240,000. Wallace Capital Management Inc. raised its holdings in Alphabet by 6.3% during the 2nd quarter. Wallace Capital Management Inc. now owns 8,420 shares of the information services provider’s stock worth $1,544,000 after purchasing an additional 500 shares during the last quarter. Finally, Newport Capital Group LLC acquired a new position in Alphabet during the 2nd quarter valued at about $410,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 4.1 %

NASDAQ:GOOG opened at $193.64 on Tuesday. The stock has a 50-day simple moving average of $187.95 and a 200 day simple moving average of $175.08. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The company has a market cap of $2.37 trillion, a PE ratio of 25.68, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Scotiabank increased their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Canaccord Genuity Group boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Get Our Latest Stock Analysis on GOOG

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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