Eleva Capital SAS Makes New $2.23 Million Investment in Alphabet Inc. $GOOG

Eleva Capital SAS bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,560 shares of the information services provider’s stock, valued at approximately $2,228,000. Alphabet accounts for about 0.5% of Eleva Capital SAS’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds also recently modified their holdings of GOOG. RDA Financial Network raised its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet in the 2nd quarter worth $213,000. Tower View Wealth Management LLC grew its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. raised its stake in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GOOG shares. BMO Capital Markets reissued an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday. Pivotal Research lifted their price objective on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Barclays lifted their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Sanford C. Bernstein upped their target price on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

Shares of GOOG opened at $284.12 on Tuesday. 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’s 50 day moving average price is $246.09 and its 200-day moving average price is $202.22. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The stock has a market cap of $3.44 trillion, a P/E ratio of 28.02, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted 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 analyst estimates of $99.90 billion. During the same quarter last year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,442 shares of company stock valued at $51,200,307 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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.