Alpha DNA Investment Management LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOG)


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Alpha DNA Investment Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 280 shares of the information services provider’s stock, valued at approximately $490,000.

Several other hedge funds have also bought and sold shares of the company. IronBridge Private Wealth LLC bought a new stake in Alphabet during the fourth quarter valued at about $112,000. Mach 1 Financial Group Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $599,000. Curi Capital bought a new position in Alphabet during the fourth quarter valued at approximately $376,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $427,000. Finally, Valley Brook Capital Group purchased a new stake in Alphabet during the fourth quarter valued at approximately $248,000. Hedge funds and other institutional investors own 31.94% of the company’s stock.

GOOG has been the topic of several research analyst reports. Canaccord Genuity increased their price objective on Alphabet from $2,250.00 to $2,400.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. They noted that the move was a valuation call. Jefferies Financial Group raised their price objective on Alphabet from $2,150.00 to $2,400.00 in a research report on Wednesday, February 3rd. Mizuho raised their price objective on Alphabet from $2,100.00 to $2,350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Wedbush raised their target price on Alphabet from $2,150.00 to $2,470.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Alphabet from $2,250.00 to $2,600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. One investment analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $2,244.11.

In other news, CAO Amie Thuener O’toole sold 30 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total value of $64,588.20. Following the transaction, the chief accounting officer now owns 966 shares of the company’s stock, valued at approximately $2,079,740.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Philipp Schindler sold 1,385 shares of Alphabet stock in a transaction on Monday, February 1st. The stock was sold at an average price of $1,852.09, for a total transaction of $2,565,144.65. Following the sale, the senior vice president now directly owns 18,712 shares in the company, valued at approximately $34,656,308.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,034 shares of company stock worth $28,870,417. 12.99% of the stock is owned by company insiders.

NASDAQ GOOG opened at $2,249.68 on Thursday. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 43.47, a P/E/G ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a 52-week low of $1,187.60 and a 52-week high of $2,255.00. The firm has a 50-day moving average price of $2,078.40 and a 200 day moving average price of $1,819.99. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.91 by $6.39. The company had revenue of $56.90 billion during the quarter, compared to analysts’ expectations of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company posted $15.35 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

Alphabet Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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