Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Roof Eidam & Maycock ADV

Posted by Defense World Staff on Mar 2nd, 2023

Roof Eidam & Maycock ADV boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,844.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,460 shares of the information services provider’s stock after purchasing an additional 26,048 shares during the period. Alphabet comprises approximately 1.0% of Roof Eidam & Maycock ADV’s portfolio, making the stock its 21st largest position. Roof Eidam & Maycock ADV’s holdings in Alphabet were worth $2,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. DC Investments Management LLC acquired a new position in shares of Alphabet in the first quarter worth $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet in the first quarter worth $184,000. Turim 21 Investimentos Ltda. grew its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in shares of Alphabet in the second quarter worth $203,000. Finally, qPULA Trading Management LP acquired a new position in shares of Alphabet in the first quarter worth $279,000. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $90.51 on Thursday. The company has a 50-day simple moving average of $94.13 and a 200-day simple moving average of $98.53. Alphabet Inc. has a one year low of $83.45 and a one year high of $144.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.24 and a beta of 1.08.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results 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 business had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. Alphabet’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. On average, analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOG shares. Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research note on Friday, February 3rd. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Piper Sandler lowered their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

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.