Alphabet Inc. $GOOG is Jackson Hole Capital Partners LLC’s 3rd Largest Position

Jackson Hole Capital Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 93,944 shares of the information services provider’s stock after purchasing an additional 1,298 shares during the quarter. Alphabet makes up 3.1% of Jackson Hole Capital Partners LLC’s portfolio, making the stock its 3rd biggest position. Jackson Hole Capital Partners LLC’s holdings in Alphabet were worth $16,665,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Alphabet by 555.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,662 shares of the information services provider’s stock worth $472,000 after buying an additional 2,256 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Alphabet by 0.7% in the 2nd quarter. Asset Management One Co. Ltd. now owns 2,225,646 shares of the information services provider’s stock worth $394,807,000 after buying an additional 15,738 shares during the period. R Squared Ltd lifted its holdings in shares of Alphabet by 249.9% in the 2nd quarter. R Squared Ltd now owns 7,557 shares of the information services provider’s stock worth $1,341,000 after buying an additional 5,397 shares during the period. AlTi Global Inc. lifted its holdings in shares of Alphabet by 6.1% in the 2nd quarter. AlTi Global Inc. now owns 89,538 shares of the information services provider’s stock worth $15,884,000 after buying an additional 5,176 shares during the period. Finally, Cardinal Point Capital Management ULC lifted its stake in shares of Alphabet by 771.0% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 109,078 shares of the information services provider’s stock worth $19,349,000 after purchasing an additional 96,555 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Jefferies Financial Group upped their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. upped their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.68.

Alphabet Trading Up 2.7%

Shares of NASDAQ:GOOG opened at $260.51 on Monday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $262.51. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $237.33 and a 200-day moving average price of $196.91.

About Alphabet

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.