Hilton Capital Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Feb 27th, 2023

Hilton Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,880 shares of the information services provider’s stock after acquiring an additional 66,386 shares during the quarter. Hilton Capital Management LLC’s holdings in Alphabet were worth $6,719,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora raised its stake in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Westchester Capital Management Inc. increased its stake in shares of Alphabet by 1,900.0% in the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Saban Cheryl increased its stake in shares of Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after buying an additional 190 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $89.35 on Monday. The stock has a market cap of $1.14 trillion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.23 and a beta of 1.08. The firm’s 50-day moving average is $94.09 and its 200 day moving average is $99.03. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $144.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Societe Generale decreased their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research report on Thursday, February 9th. Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at approximately $2,518,946.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 340 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders have sold a total of 36,583 shares of company stock worth $3,418,900 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.