Steginsky Capital LLC Takes Position in Alphabet Inc (GOOG)
Steginsky Capital LLC purchased a new position in Alphabet Inc (NASDAQ:GOOG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,892 shares of the information services provider’s stock, valued at approximately $11,494,000. Alphabet comprises approximately 10.3% of Steginsky Capital LLC’s investment portfolio, making the stock its 7th largest position.
Several other large investors have also recently modified their holdings of GOOG. Steel Canyon Capital LLC bought a new stake in Alphabet during the fourth quarter worth about $5,481,000. Monetary Management Group Inc. increased its stake in Alphabet by 3.7% in the fourth quarter. Monetary Management Group Inc. now owns 2,947 shares of the information services provider’s stock valued at $2,275,000 after buying an additional 106 shares in the last quarter. Credit Agricole S A increased its stake in Alphabet by 30.4% in the fourth quarter. Credit Agricole S A now owns 251,235 shares of the information services provider’s stock valued at $193,909,000 after buying an additional 58,584 shares in the last quarter. Nicholas Co. Inc. WI acquired a new stake in Alphabet during the fourth quarter valued at about $45,367,000. Finally, Letko Brosseau & Associates Inc. increased its stake in Alphabet by 1.6% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 947 shares of the information services provider’s stock valued at $731,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 34.74% of the company’s stock.
Shares of Alphabet Inc (NASDAQ:GOOG) traded up 0.17% during trading on Friday, reaching $843.06. The company’s stock had a trading volume of 293,938 shares. The company has a market cap of $582.91 billion, a PE ratio of 30.24 and a beta of 0.94. The stock’s 50 day moving average price is $833.03 and its 200 day moving average price is $802.56. Alphabet Inc has a 52 week low of $663.28 and a 52 week high of $853.50.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $9.67 by $0.31. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. The company earned $26.04 billion during the quarter, compared to analysts’ expectations of $25.18 billion. During the same quarter last year, the firm posted $8.67 earnings per share. Alphabet’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc will post $33.26 EPS for the current year.
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GOOG has been the subject of several research reports. Jefferies Group LLC reiterated a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Friday, December 23rd. Royal Bank of Canada set a $880.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Monday, December 26th. Goldman Sachs Group Inc reaffirmed a “buy” rating and issued a $970.00 price target on shares of Alphabet in a report on Thursday, December 29th. Citigroup Inc upped their price target on shares of Alphabet from $910.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, January 3rd. Finally, Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $810.65 target price for the company. in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $956.36.
In other Alphabet news, Director L John Doerr sold 15,641 shares of Alphabet stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $799.20, for a total transaction of $12,500,287.20. Following the completion of the sale, the director now owns 3,443 shares of the company’s stock, valued at $2,751,645.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $852.42, for a total value of $1,704,840.00. Following the sale, the senior vice president now directly owns 5,800 shares of the company’s stock, valued at approximately $4,944,036. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,688 shares of company stock valued at $229,255,327. 13.92% of the stock is owned by company insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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