IPG Investment Advisors LLC Acquires 11,916 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 1st, 2023

IPG Investment Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,969.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,521 shares of the information services provider’s stock after buying an additional 11,916 shares during the quarter. IPG Investment Advisors LLC’s holdings in Alphabet were worth $1,204,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOG. Walled Lake Planning & Wealth Management LLC raised its position in shares of Alphabet by 1,900.0% during the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock worth $3,281,000 after acquiring an additional 32,414 shares during the last quarter. Connecticut Wealth Management LLC grew its stake in Alphabet by 1,415.4% during the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after purchasing an additional 7,799 shares during the period. Clarity Financial LLC grew its stake in Alphabet by 2,118.6% during the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after purchasing an additional 58,940 shares during the period. Element Wealth LLC grew its stake in Alphabet by 2,245.1% during the third quarter. Element Wealth LLC now owns 2,861 shares of the information services provider’s stock worth $275,000 after purchasing an additional 2,739 shares during the period. Finally, Curated Wealth Partners LLC grew its stake in Alphabet by 1,916.3% during the third quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock worth $489,000 after purchasing an additional 4,829 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. UBS Group set a $120.00 price objective on Alphabet in a research note on Monday, February 6th. Raymond James boosted their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Oppenheimer lifted their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.13.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the 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 transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,963 shares of company stock worth $3,453,119. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $90.30 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.16 trillion, a P/E ratio of 19.84, a PEG ratio of 1.23 and a beta of 1.08. The stock’s 50 day moving average is $94.12 and its 200 day moving average is $98.59. Alphabet Inc. has a twelve month low of $83.45 and a twelve month 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 the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal 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.