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Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Independent Investors Inc.
Posted by Defense World Staff on Jan 13th, 2023
Independent Investors Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,900.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,620 shares of the information services provider's stock after acquiring an additional 9,139 shares during the period. Independent Investors Inc.'s holdings in Alphabet were worth $920,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Artemis Wealth Advisors LLC increased its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider's stock valued at $27,000 after purchasing an additional 266 shares in the last quarter. First Command Bank increased its holdings in shares of Alphabet by 1,996.4% in the 3rd quarter. First Command Bank now owns 9,350 shares of the information services provider's stock valued at $894,000 after purchasing an additional 8,904 shares in the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Alphabet by 1,999.3% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 2,960 shares of the information services provider's stock valued at $283,000 after purchasing an additional 2,819 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in shares of Alphabet by 1,889.3% in the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 25,622 shares of the information services provider's stock valued at $2,591,000 after purchasing an additional 24,334 shares in the last quarter. Finally, Arbor Trust Wealth Advisors LLC increased its holdings in shares of Alphabet by 1,883.6% in the 3rd quarter. Arbor Trust Wealth Advisors LLC now owns 26,918 shares of the information services provider's stock valued at $2,577,000 after purchasing an additional 25,561 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company's stock.
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Alphabet Trading Down 0.4 %
NASDAQ GOOGL opened at $91.13 on Friday. The company's fifty day simple moving average is $92.71 and its 200-day simple moving average is $102.37. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.18 trillion, a P/E ratio of 18.10, a PEG ratio of 1.53 and a beta of 1.09.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter last year, the firm posted $1.40 EPS. Equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business's stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business's stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company's stock.
A number of equities analysts have recently issued reports on the stock. Tigress Financial cut their price target on shares of Alphabet from $186.00 to $160.00 and set a "strong-buy" rating for the company in a report on Friday, January 6th. Truist Financial dropped their target price on shares of Alphabet from $136.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, October 26th. KeyCorp dropped their target price on shares of Alphabet from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Tuesday, October 25th. Susquehanna Bancshares dropped their target price on shares of Alphabet from $150.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday, October 26th. Finally, The Goldman Sachs Group dropped their target price on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.00.
Alphabet Profile
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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