Lee Johnson Capital Management LLC Takes $4.06 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Lee Johnson Capital Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,453 shares of the information services provider’s stock, valued at approximately $4,056,000. Alphabet comprises approximately 2.1% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 2.8 %

Shares of GOOGL opened at $174.46 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $162.17 and a 200 day moving average of $168.78. The company has a market cap of $2.16 trillion, a PE ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52-week low of $122.68 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm 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 quarter last year, the business earned $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.65 EPS for the current year.

Alphabet 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.