Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Pasadena Private Wealth LLC

Posted by Defense World Staff on Mar 16th, 2023

Pasadena Private Wealth LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,464.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,923 shares of the information services provider’s stock after purchasing an additional 8,575 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spreng Capital Management Inc. grew its holdings in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. grew its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC grew its holdings in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GOOGL shares. Jefferies Financial Group restated a “buy” rating and issued a $130.00 target price on shares of Alphabet in a research note on Friday, February 10th. Mizuho lowered their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. MKM Partners boosted their target price on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Wells Fargo & Company boosted their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.32.

Insider Activity

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Ann Mather sold 340 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 36,745 shares of company stock worth $3,424,078. Company insiders own 11.44% of the company’s stock.

Alphabet Trading Up 2.3 %

Alphabet stock opened at $96.11 on Thursday. The business has a 50 day moving average price of $94.51 and a two-hundred day moving average price of $96.29. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.23 trillion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth 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 posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period last year, the company earned $1.53 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current 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.