Peninsula Wealth LLC Acquires 9,889 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 2nd, 2023

Peninsula Wealth LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,962.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,393 shares of the information services provider’s stock after purchasing an additional 9,889 shares during the period. Peninsula Wealth LLC’s holdings in Alphabet were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Financial Advisors Network Inc. grew its stake in Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. grew its stake in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC grew its stake in Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after buying an additional 16 shares during the period. 28.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Jefferies Financial Group set a $125.00 price objective on Alphabet in a report on Friday, February 3rd. Raymond James boosted their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a report on Friday, February 3rd. UBS Group set a $120.00 price objective on Alphabet in a report on Monday, February 6th. Finally, The Goldman Sachs Group set a $128.00 price objective on Alphabet in a report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.13.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was 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 directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock worth $3,424,078 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $90.51 on Thursday. The business has a 50 day simple moving average of $94.13 and a two-hundred day simple moving average of $98.53. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16. The stock has a market capitalization of $1.16 trillion, a P/E ratio of 19.89, a PEG ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

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 firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. Alphabet’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. As a group, analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Alphabet Company 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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