Voloridge Investment Management LLC Buys 5,504 Shares of Alphabet Inc. (NASDAQ:GOOG)

Voloridge Investment Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,060 shares of the information services provider’s stock after acquiring an additional 5,504 shares during the period. Alphabet makes up 0.5% of Voloridge Investment Management LLC’s investment portfolio, making the stock its 28th biggest position. Voloridge Investment Management LLC’s holdings in Alphabet were worth $68,389,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mascoma Wealth Management LLC bought a new stake in Alphabet in the first quarter worth $27,000. Better Money Decisions LLC bought a new stake in Alphabet in the first quarter worth $27,000. Resolute Partners Group bought a new stake in Alphabet in the fourth quarter worth $26,000. Brand Asset Management Group Inc. lifted its stake in Alphabet by 200.0% in the first quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock worth $31,000 after purchasing an additional 10 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new stake in Alphabet in the first quarter worth $31,000. 31.70% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Alphabet in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 price objective on the stock. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,940.00 price objective on the stock in a research report on Friday, July 16th. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research report on Thursday, May 20th. KGI Securities assumed coverage on shares of Alphabet in a research report on Wednesday, June 2nd. They issued an “outperform” rating on the stock. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $2,350.00 to $2,510.00 and gave the company an “outperform” rating in a research report on Monday, April 26th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $2,527.00.

In other news, CAO Amie Thuener O’toole sold 18 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $2,400.00, for a total value of $43,200.00. Following the transaction, the chief accounting officer now owns 979 shares in the company, valued at $2,349,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence Page sold 3,998 shares of the company’s stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $2,261.93, for a total transaction of $9,043,196.14. Following the completion of the transaction, the director now owns 800 shares in the company, valued at approximately $1,809,544. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,312 shares of company stock worth $166,477,588. Insiders own 12.99% of the company’s stock.

NASDAQ:GOOG traded up $8.34 during mid-day trading on Thursday, hitting $2,660.35. 6,958 shares of the company’s stock were exchanged, compared to its average volume of 960,300. Alphabet Inc. has a one year low of $1,406.55 and a one year high of $2,659.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.09 and a current ratio of 3.10. The company has a fifty day moving average price of $2,495.21. The stock has a market cap of $1.78 trillion, a P/E ratio of 35.30, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, topping the consensus estimate of $15.74 by $10.55. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. The business had revenue of $55.30 billion for the quarter, compared to analyst estimates of $51.40 billion. During the same quarter in the previous year, the firm posted $9.87 earnings per share. Alphabet’s quarterly revenue was up 34.4% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 90.17 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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