Opinicus Capital Inc. Takes $1.13 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Opinicus Capital Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, HoldingsChannel reports. The fund purchased 7,991 shares of the information services provider’s stock, valued at approximately $1,126,000. Alphabet accounts for approximately 1.1% of Opinicus Capital Inc.’s portfolio, making the stock its 27th biggest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Tandem Wealth Advisors LLC bought a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new stake in Alphabet in the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Up 10.0 %

Shares of NASDAQ GOOG opened at $173.69 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company has a market cap of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 1 year low of $104.42 and a 1 year high of $176.42. The firm has a 50-day simple moving average of $149.12 and a two-hundred day simple moving average of $142.78.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 12.99% of the company’s stock.

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.