Armstrong Henry H Associates Inc. Acquires 495 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 19th, 2023

Armstrong Henry H Associates Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,115 shares of the information services provider’s stock after acquiring an additional 495 shares during the quarter. Alphabet makes up about 1.1% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 12th largest holding. Armstrong Henry H Associates Inc.’s holdings in Alphabet were worth $9,061,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new stake in Alphabet in the first quarter valued at $115,000. Guardian Wealth Management Inc. acquired a new stake in Alphabet in the first quarter valued at $184,000. Turim 21 Investimentos Ltda. lifted its stake in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. qPULA Trading Management LP acquired a new stake in Alphabet in the first quarter valued at $279,000. Finally, Global Assets Advisory LLC acquired a new stake in Alphabet in the second quarter valued at $241,000. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a research note on Thursday, February 9th. Raymond James raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Bank of America raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Societe Generale cut their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

Alphabet Price Performance

GOOG stock opened at $102.46 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16. The firm has a market cap of $1.31 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.33 and a beta of 1.09. The company’s 50-day moving average price is $95.69 and its two-hundred day moving average price is $96.73.

Alphabet (NASDAQ:GOOG – Get Rating) last released its 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the prior year, the business earned $1.53 earnings per share. Alphabet’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, 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 have sold a total of 74,245 shares of company stock valued at $7,174,078 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.