Founders Capital Management Has $1.01 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 19th, 2023

Founders Capital Management decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 40.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,420 shares of the information services provider’s stock after selling 7,786 shares during the quarter. Founders Capital Management’s holdings in Alphabet were worth $1,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OLD Second National Bank of Aurora increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares during the period. Westchester Capital Management Inc. increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares during the period. Carolina Wealth Advisors LLC increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the period. Saban Cheryl increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after buying an additional 190 shares during the period. Finally, Gould Capital LLC increased its holdings in Alphabet by 2,150.0% in the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Stock Up 1.4 %

Shares of NASDAQ GOOG opened at $102.46 on Friday. The company has a market capitalization of $1.31 trillion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. 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 company’s 50 day moving average price is $95.69 and its 200-day moving average price is $96.73.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during 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%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. Equities analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred 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 owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’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 transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer raised their target price on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Piper Sandler decreased their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Cowen decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, Societe Generale decreased their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.11.

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.