Grandview Asset Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 19th, 2023

Grandview Asset Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,748 shares of the information services provider’s stock after purchasing an additional 1,463 shares during the period. Alphabet comprises about 1.0% of Grandview Asset Management LLC’s portfolio, making the stock its 26th largest position. Grandview Asset Management LLC’s holdings in Alphabet were worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Willow Creek Wealth Management Inc. grew its position in Alphabet by 1,926.9% during the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after buying an additional 17,631 shares during the period. Louisiana State Employees Retirement System bought a new position in Alphabet during the third quarter valued at about $55,305,000. Griffin Asset Management Inc. grew its position in Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the period. Bridgewater Advisors Inc. grew its position in Alphabet by 3,005.0% during the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after buying an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. boosted its position in Alphabet by 1,915.2% during the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 1.3 %

GOOGL stock opened at $101.62 on Friday. The company has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company’s 50 day moving average price is $95.08 and its two-hundred day moving average price is $96.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

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 business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period last year, the business posted $1.53 earnings per share. As a group, analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’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 completion of 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. Over the last ninety days, insiders have sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research report on Thursday. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research report on Friday. Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Rosenblatt Securities cut their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, Truist Financial cut their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.44.

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.