Courage Capital Management LLC Has $8.81 Million Holdings in Alphabet Inc. (GOOG)
Courage Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 31.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,623 shares of the information services provider’s stock after acquiring an additional 2,530 shares during the quarter. Alphabet accounts for about 7.3% of Courage Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Courage Capital Management LLC’s holdings in Alphabet were worth $8,812,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Feltz Wealth PLAN Inc. bought a new stake in shares of Alphabet in the first quarter worth about $170,000. Pinnacle Bank bought a new position in shares of Alphabet during the first quarter worth about $181,000. Palo Capital Inc. bought a new position in shares of Alphabet during the first quarter worth about $202,000. BTC Capital Management Inc. bought a new position in shares of Alphabet during the first quarter worth about $209,000. Finally, Mandatum Life Insurance Co Ltd bought a new position in shares of Alphabet during the first quarter worth about $209,000. Institutional investors own 34.55% of the company’s stock.
In related news, Director L John Doerr sold 13,556 shares of Alphabet stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,213,692.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the transaction, the chief executive officer now owns 1,536 shares in the company, valued at approximately $1,489,797.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,184 shares of company stock worth $42,115,482. 13.92% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on the company. UBS AG reiterated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a report on Monday, May 15th. Piper Jaffray Companies reiterated an “overweight” rating and set a $1,050.00 price objective on shares of Alphabet in a report on Wednesday, August 9th. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a report on Friday, June 9th. MKM Partners reiterated a “buy” rating and set a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. Finally, BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,030.53.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.706% during trading on Monday, hitting $933.042. The stock had a trading volume of 515,112 shares. The company has a market cap of $646.49 billion, a PE ratio of 33.814 and a beta of 0.94. The firm’s 50 day moving average is $927.87 and its 200 day moving average is $905.08. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter in the previous year, the company earned $8.42 EPS. Alphabet’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
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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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