Regal Partners Ltd Buys 242,522 Shares of Alphabet Inc. $GOOG

Regal Partners Ltd boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6,670.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,158 shares of the information services provider’s stock after buying an additional 242,522 shares during the quarter. Alphabet makes up approximately 3.6% of Regal Partners Ltd’s holdings, making the stock its 10th largest holding. Regal Partners Ltd’s holdings in Alphabet were worth $43,666,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Smart Money Group LLC lifted its holdings in Alphabet by 24.6% in the first quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after buying an additional 432 shares during the period. Impax Asset Management Group plc lifted its holdings in Alphabet by 2.2% in the first quarter. Impax Asset Management Group plc now owns 33,291 shares of the information services provider’s stock valued at $5,201,000 after buying an additional 725 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in Alphabet by 1.8% in the first quarter. Capital Investment Advisory Services LLC now owns 77,915 shares of the information services provider’s stock valued at $12,173,000 after buying an additional 1,378 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Alphabet by 0.8% in the 1st quarter. Truist Financial Corp now owns 3,611,862 shares of the information services provider’s stock valued at $564,281,000 after purchasing an additional 30,326 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 222,330 shares of company stock worth $51,167,625. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GOOG shares. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday. Piper Sandler increased their target price on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird increased their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Pivotal Research increased their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Trading Down 0.0%

NASDAQ GOOG opened at $281.82 on Monday. The firm has a market cap of $3.41 trillion, a P/E ratio of 27.79, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $244.59 and its 200-day moving average is $201.30. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $2.12 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.