Saturna Capital CORP Acquires 653,106 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 5th, 2023

Saturna Capital CORP grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4,026.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 669,325 shares of the information services provider’s stock after acquiring an additional 653,106 shares during the period. Alphabet comprises approximately 1.6% of Saturna Capital CORP’s holdings, making the stock its 22nd largest position. Saturna Capital CORP’s holdings in Alphabet were worth $64,021,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Willow Creek Wealth Management Inc. grew its position in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after acquiring an additional 17,631 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet during the 3rd quarter valued at $55,305,000. Griffin Asset Management Inc. lifted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after buying an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its stake in shares of Alphabet by 1,915.2% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after buying an additional 123,356 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated 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 approximately $1,008,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated 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 approximately $1,008,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock worth $3,424,078 in the last three months. Corporate insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Barclays lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Truist Financial lowered their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price on the stock. Finally, Mizuho decreased their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $93.65 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.27 and a beta of 1.09. The firm’s 50-day moving average is $93.66 and its 200 day moving average is $97.54. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued 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 company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the company earned $1.53 earnings per share. Research analysts predict that Alphabet Inc. will post 5.12 EPS for the current 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.