HS Management Partners LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Feb 27th, 2023

HS Management Partners LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,690.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,165 shares of the information services provider’s stock after acquiring an additional 1,245,475 shares during the quarter. Alphabet comprises about 5.7% of HS Management Partners LLC’s investment portfolio, making the stock its 9th biggest position. HS Management Partners LLC’s holdings in Alphabet were worth $126,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Westchester Capital Management Inc. increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Carolina Wealth Advisors LLC increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. Saban Cheryl increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Finally, NewSquare Capital LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOG shares. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report 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 report on Wednesday, November 30th. Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a research report on Monday, February 6th. Finally, Raymond James boosted their price target on shares of Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred 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 directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 36,583 shares of company stock valued at $3,418,900 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9 %

GOOG opened at $89.35 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. The firm has a 50 day simple moving average of $94.09 and a 200 day simple moving average of $99.03. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for 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 company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.53 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.

Alphabet 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.