Alphabet Inc. $GOOG is Pavion Blue Capital LLC’s 7th Largest Position

Pavion Blue Capital LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,235 shares of the information services provider’s stock after buying an additional 125 shares during the quarter. Alphabet accounts for approximately 3.7% of Pavion Blue Capital LLC’s portfolio, making the stock its 7th biggest position. Pavion Blue Capital LLC’s holdings in Alphabet were worth $8,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Alphabet during the 1st quarter worth $2,622,943,000. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Alphabet during the 1st quarter worth $369,713,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $281.90 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93. The stock has a 50 day moving average of $243.09 and a two-hundred day moving average of $199.85. The stock has a market cap of $3.41 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a research report on Thursday. Cowen restated a “buy” rating on shares of Alphabet in a research note on Thursday. Morgan Stanley boosted their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research note on Thursday. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction 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 transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.