Motley Fool Asset Management LLC Acquires 49,531 Shares of Alphabet Inc. $GOOG

Motley Fool Asset Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 591,878 shares of the information services provider’s stock after purchasing an additional 49,531 shares during the quarter. Alphabet accounts for about 4.8% of Motley Fool Asset Management LLC’s portfolio, making the stock its 5th largest holding. Motley Fool Asset Management LLC’s holdings in Alphabet were worth $104,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOG. IFS Advisors LLC boosted its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC grew its holdings in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG stock opened at $275.17 on Thursday. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. 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 company has a 50 day simple moving average of $241.46 and a 200 day simple moving average of $199.27. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $275.97.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Jefferies Financial Group upped their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial set a $275.00 target price on Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $297.56.

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.