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

Opinicus Capital Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 largest position.

A number of other institutional investors also recently made changes to their positions in GOOG. CX Institutional boosted its stake in shares of Alphabet by 2.3% in the third quarter. CX Institutional now owns 29,102 shares of the information services provider’s stock valued at $3,837,000 after buying an additional 648 shares during the period. Builder Investment Group Inc. ADV boosted its stake in shares of Alphabet by 19.8% in the third quarter. Builder Investment Group Inc. ADV now owns 2,420 shares of the information services provider’s stock valued at $319,000 after buying an additional 400 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Alphabet by 25.4% in the third quarter. Coronation Fund Managers Ltd. now owns 47,109 shares of the information services provider’s stock valued at $6,211,000 after buying an additional 9,534 shares during the period. Goldstein Advisors LLC boosted its stake in shares of Alphabet by 12.3% in the third quarter. Goldstein Advisors LLC now owns 6,479 shares of the information services provider’s stock valued at $854,000 after buying an additional 711 shares during the period. Finally, SS&H Financial Advisors Inc. bought a new stake in shares of Alphabet in the third quarter valued at approximately $2,423,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Susquehanna lifted 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 10.0 %

Shares of Alphabet stock opened at $173.69 on Monday. The firm’s 50 day moving average is $149.12 and its 200 day moving average is $142.78. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $104.42 and a 1 year high of $176.42. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping 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 business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

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.