Steel Canyon Capital LLC Takes Position in Alphabet Inc (GOOG)

Steel Canyon Capital LLC purchased a new stake in shares of Alphabet Inc (NASDAQ:GOOG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,101 shares of the information services provider’s stock, valued at approximately $5,481,000. Alphabet makes up approximately 6.5% of Steel Canyon Capital LLC’s holdings, making the stock its 8th largest position.

A number of other institutional investors have also recently modified their holdings of GOOG. Oregon Public Employees Retirement Fund increased its position in shares of Alphabet by 36.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 75,412 shares of the information services provider’s stock valued at $58,617,000 after buying an additional 20,110 shares in the last quarter. Gradient Investments LLC increased its position in Alphabet by 1.5% in the third quarter. Gradient Investments LLC now owns 541 shares of the information services provider’s stock valued at $421,000 after buying an additional 8 shares during the period. Hills Bank & Trust Co. increased its position in Alphabet by 5.3% in the third quarter. Hills Bank & Trust Co. now owns 4,967 shares of the information services provider’s stock valued at $3,860,000 after buying an additional 252 shares during the period. Bristol John W & Co. Inc. NY increased its position in Alphabet by 10.4% in the third quarter. Bristol John W & Co. Inc. NY now owns 101,687 shares of the information services provider’s stock valued at $79,040,000 after buying an additional 9,563 shares during the period. Finally, Addison Capital Co increased its position in Alphabet by 395.4% in the third quarter. Addison Capital Co now owns 1,511 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 1,206 shares during the period. 34.74% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Alphabet Inc (NASDAQ:GOOG) traded up 0.18% during trading on Friday, reaching $843.19. The company’s stock had a trading volume of 618,193 shares. The company’s 50-day moving average is $833.03 and its 200-day moving average is $802.56. Alphabet Inc has a 1-year low of $663.28 and a 1-year high of $853.50. The company has a market capitalization of $583.00 billion, a P/E ratio of 30.25 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $9.67 by $0.31. The company earned $26.04 billion during the quarter, compared to analyst estimates of $25.18 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.67 earnings per share. Equities analysts anticipate that Alphabet Inc will post $33.26 EPS for the current year.

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Several equities research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $1,005.00 price target on shares of Alphabet in a research report on Friday, March 3rd. Pivotal Research restated a “hold” rating and issued a $950.00 price target on shares of Alphabet in a research report on Monday, March 27th. Cowen and Company reiterated an “outperform” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday. MKM Partners reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $935.00) on shares of Alphabet in a research report on Thursday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $956.36.

In other news, Director L John Doerr sold 15,641 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $799.20, for a total value of $12,500,287.20. Following the completion of the sale, the director now owns 3,443 shares of the company’s stock, valued at $2,751,645.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $809.21, for a total value of $3,236,840.00. Following the completion of the sale, the chief executive officer now directly owns 2,645 shares of the company’s stock, valued at approximately $2,140,360.45. The disclosure for this sale can be found here. Insiders sold a total of 281,688 shares of company stock worth $229,255,327 over the last 90 days. Insiders own 13.92% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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