Requisite Capital Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Requisite Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,870 shares of the information services provider’s stock, valued at approximately $927,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC raised its position in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. lifted its stake in Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after purchasing an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC increased its position in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock valued at $22,470,464 over the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Alphabet Trading Up 1.7 %

Shares of Alphabet stock opened at $197.07 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The firm has a market cap of $2.41 trillion, a PE ratio of 26.14, a PEG ratio of 1.27 and a beta of 0.99. The company has a 50 day simple moving average of $188.29 and a two-hundred day simple moving average of $175.13.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.02 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.