Vantage Financial Partners Ltd. Inc. Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Feb 28th, 2023

Vantage Financial Partners Ltd. Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,846.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,100 shares of the information services provider’s stock after buying an additional 17,170 shares during the quarter. Alphabet accounts for about 1.1% of Vantage Financial Partners Ltd. Inc.’s holdings, making the stock its 17th biggest holding. Vantage Financial Partners Ltd. Inc.’s holdings in Alphabet were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new stake in shares of Alphabet during the first quarter worth about $16,688,000. Markel Corp lifted its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank lifted its position in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management lifted its position in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOGL shares. Bank of America raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Mizuho reduced their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. KeyCorp reduced their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Loop Capital raised their target price on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $89.87 on Tuesday. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 19.75, a PEG ratio of 1.23 and a beta of 1.08. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company’s fifty day moving average is $93.45 and its two-hundred day moving average is $98.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,583 shares of company stock worth $3,418,900. Corporate insiders own 11.44% of the company’s stock.

About Alphabet

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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.