BloombergSen Inc. Takes $56.98 Million Position in Alphabet Inc (NASDAQ:GOOG)

BloombergSen Inc. purchased a new stake in shares of Alphabet Inc (NASDAQ:GOOG) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 49,000 shares of the information services provider’s stock, valued at approximately $56,978,000. Alphabet makes up 4.9% of BloombergSen Inc.’s investment portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC grew its position in shares of Alphabet by 3.8% during the 4th quarter. Cornerstone Wealth Group LLC now owns 189 shares of the information services provider’s stock valued at $253,000 after purchasing an additional 7 shares in the last quarter. Moloney Securities Asset Management LLC lifted its holdings in shares of Alphabet by 0.8% during the 4th quarter. Moloney Securities Asset Management LLC now owns 939 shares of the information services provider’s stock worth $1,255,000 after acquiring an additional 7 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Dakota Wealth Management now owns 1,378 shares of the information services provider’s stock worth $1,843,000 after acquiring an additional 7 shares during the last quarter. Cim LLC lifted its holdings in shares of Alphabet by 0.9% during the 4th quarter. Cim LLC now owns 808 shares of the information services provider’s stock worth $1,080,000 after acquiring an additional 7 shares during the last quarter. Finally, MACRO Consulting Group lifted its holdings in shares of Alphabet by 4.6% during the 4th quarter. MACRO Consulting Group now owns 182 shares of the information services provider’s stock worth $243,000 after acquiring an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 32.99% of the company’s stock.

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, February 4th. Pivotal Research lifted their price objective on shares of Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, April 29th. UBS Group boosted their price target on shares of Alphabet from $1,530.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, ValuEngine raised shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,580.52.

Shares of NASDAQ GOOG traded up $0.21 during midday trading on Thursday, hitting $1,418.05. 1,289,297 shares of the company traded hands, compared to its average volume of 1,656,767. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,532.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock has a 50-day moving average price of $1,315.10 and a 200 day moving average price of $1,335.23. The firm has a market cap of $967.85 billion, a P/E ratio of 28.61, a P/E/G ratio of 2.12 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. During the same quarter in the prior year, the firm earned $9.50 EPS. Alphabet’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc will post 41.47 earnings per share for the current year.

In other Alphabet news, CAO Amie Thuener O’toole sold 61 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $1,098.26, for a total value of $66,993.86. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at $426,124.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 31 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1,352.66, for a total transaction of $41,932.46. Following the completion of the sale, the director now owns 1,119 shares in the company, valued at approximately $1,513,626.54. The disclosure for this sale can be found here. Insiders have sold 325 shares of company stock worth $409,753 in the last quarter. 12.99% of the stock is owned by corporate insiders.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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