Metropolitan Life Insurance Co NY Acquires 291,849 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 1st, 2023

Metropolitan Life Insurance Co NY boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,820.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,880 shares of the information services provider’s stock after buying an additional 291,849 shares during the period. Alphabet makes up 1.6% of Metropolitan Life Insurance Co NY’s holdings, making the stock its 6th largest position. Metropolitan Life Insurance Co NY’s holdings in Alphabet were worth $29,603,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. OLD Second National Bank of Aurora boosted its position in 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 purchasing an additional 247 shares in the last quarter. Westchester Capital Management Inc. increased its holdings 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 valued at $25,000 after purchasing an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings 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 valued at $29,000 after purchasing an additional 285 shares during the last quarter. Saban Cheryl increased its holdings 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 valued at $29,000 after purchasing an additional 190 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.2 %

Shares of NASDAQ GOOG opened at $90.30 on Wednesday. The company’s 50 day simple moving average is $94.12 and its 200 day simple moving average is $98.59. 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 firm has a market capitalization of $1.16 trillion, a P/E ratio of 19.84, a P/E/G ratio of 1.23 and a beta of 1.08. 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 issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 earnings per share. On average, analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. Insiders sold a total of 36,963 shares of company stock valued at $3,453,119 in the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Oppenheimer lifted their price target on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Cowen cut their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research report on Monday, February 6th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.13.

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.