Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Horizon Kinetics Asset Management LLC

Posted by on Mar 15th, 2023

Horizon Kinetics Asset Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 221.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,240 shares of the information services provider’s stock after buying an additional 4,298 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Alphabet were worth $597,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. IAG Wealth Partners LLC boosted its holdings in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the last quarter. Laurel Wealth Planning LLC boosted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Coston McIsaac & Partners boosted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Finally, Horizons Wealth Management acquired a new position in Alphabet in the second quarter valued at $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOGL. New Street Research began coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Tigress Financial reduced their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. KeyCorp reduced their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Evercore ISI reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Finally, Bank of America lifted their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Buying and Selling

In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 over the last quarter. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $93.97 on Wednesday. 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 stock has a 50 day simple moving average of $94.35 and a 200-day simple moving average of $96.30. The company has a market cap of $1.20 trillion, a PE ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09. 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 quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates 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 firm posted $1.53 earnings per share. On average, equities research analysts forecast 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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