AM Investment Strategies LLC Purchases 2,435 Shares of Alphabet Inc. (NASDAQ:GOOG)

AM Investment Strategies LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,734 shares of the information services provider’s stock after acquiring an additional 2,435 shares during the quarter. Alphabet accounts for 3.3% of AM Investment Strategies LLC’s investment portfolio, making the stock its 5th biggest position. AM Investment Strategies LLC’s holdings in Alphabet were worth $13,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at about $26,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $193.20 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock’s fifty day moving average is $176.33 and its two-hundred day moving average is $174.69.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.19.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,409 shares of company stock valued at $43,523,710. Insiders own 12.99% of the company’s stock.

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.