BCS Wealth Management Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 20th, 2023

BCS Wealth Management raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the information services provider’s stock after purchasing an additional 500 shares during the period. BCS Wealth Management’s holdings in Alphabet were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was 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 of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction dated 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 purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,245 shares of company stock valued at $7,174,078. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a report on Friday. Mizuho decreased their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. New Street Research began coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price for the company. Truist Financial decreased their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.44.

Alphabet Stock Up 1.3 %

Shares of GOOGL opened at $101.62 on Monday. The stock has a 50 day moving average price of $95.08 and a 200 day moving average price of $96.09. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.39 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. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates 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 firm posted $1.53 EPS. Equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal 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.