Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Horizon Wealth Management LLC

Posted by Defense World Staff on Mar 16th, 2023

Horizon Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,754.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,417 shares of the information services provider’s stock after acquiring an additional 10,052 shares during the period. Alphabet makes up about 0.7% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F lifted its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. raised its position in shares of Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Stock Up 2.4 %

Alphabet stock opened at $96.55 on Thursday. The firm has a market cap of $1.24 trillion, a PE ratio of 21.22, a P/E/G ratio of 1.26 and a beta of 1.09. 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 firm’s 50 day moving average price is $95.12 and its two-hundred day moving average price is $96.84. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last posted 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 firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.53 earnings per share. On average, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOG. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Oppenheimer increased their price target on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Raymond James increased their price target on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research note on Monday, February 6th. Finally, UBS Group set a $120.00 price target on Alphabet in a research note on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $137.13.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction on Monday, January 23rd. The shares were 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 owns 41,970 shares in the company, valued at approximately $4,197,000. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 36,745 shares of company stock worth $3,424,078 in the last ninety days. 12.99% of the stock is currently owned by insiders.

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.