Alphabet Inc. (NASDAQ:GOOG) Shares Bought by BRX Global LP

Posted by on Mar 2nd, 2023

BRX Global LP lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,880 shares of the information services provider’s stock after buying an additional 82,536 shares during the quarter. Alphabet comprises approximately 10.2% of BRX Global LP’s investment portfolio, making the stock its 5th biggest holding. BRX Global LP’s holdings in Alphabet were worth $8,354,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOG. Polen Capital Management LLC grew its position in shares of Alphabet by 1,896.1% during the 3rd quarter. Polen Capital Management LLC now owns 28,471,359 shares of the information services provider’s stock worth $2,737,521,000 after buying an additional 27,045,038 shares during the period. Jennison Associates LLC boosted its stake in Alphabet by 1,736.4% during the 3rd quarter. Jennison Associates LLC now owns 23,253,198 shares of the information services provider’s stock worth $2,235,795,000 after acquiring an additional 21,986,989 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Alphabet by 1,872.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after acquiring an additional 17,365,189 shares during the last quarter. TD Asset Management Inc. boosted its stake in Alphabet by 1,863.4% during the 3rd quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock worth $1,620,863,000 after acquiring an additional 15,682,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Alphabet by 1,966.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,818,151 shares of the information services provider’s stock worth $1,424,954,000 after acquiring an additional 14,101,177 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. UBS Group set a $120.00 price objective on shares of Alphabet in a research note on Monday, February 6th. Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a research note on Monday, February 6th. Finally, The Goldman Sachs Group set a $128.00 price target on shares of Alphabet in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, 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 filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock worth $3,424,078 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $90.51 on Thursday. The company has a market cap 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 Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The company’s fifty day simple moving average is $94.13 and its 200 day simple moving average is $98.53. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share 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 return on equity of 23.54% and a net margin of 21.20%. Alphabet’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. On average, research analysts forecast 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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