Calton & Associates Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Calton & Associates Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2,102.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,961 shares of the information services provider’s stock after buying an additional 35,283 shares during the period. Alphabet comprises about 1.0% of Calton & Associates Inc.’s holdings, making the stock its 17th largest position. Calton & Associates Inc.’s holdings in Alphabet were worth $6,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter worth about $30,000. Denver PWM LLC purchased a new position in Alphabet in the 2nd quarter valued at approximately $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $174.46 on Thursday. Alphabet Inc. has a twelve month low of $122.68 and a twelve month high of $191.75. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a 50-day moving average of $162.17 and a 200-day moving average of $168.78. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOGL shares. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. JMP Securities increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.