Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by GPM Growth Investors Inc.

Posted by Defense World Staff on Mar 20th, 2023

GPM Growth Investors Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,387 shares of the information services provider’s stock after selling 2,002 shares during the period. Alphabet makes up 4.8% of GPM Growth Investors Inc.’s holdings, making the stock its 5th biggest holding. GPM Growth Investors Inc.’s holdings in Alphabet were worth $7,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Coldstream Capital Management Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $8,295,000. Thomasville National Bank grew its holdings in Alphabet by 5.2% during the 4th quarter. Thomasville National Bank now owns 6,552 shares of the information services provider’s stock worth $578,000 after acquiring an additional 322 shares in the last quarter. Gradient Investments LLC grew its holdings in Alphabet by 2.8% during the 4th quarter. Gradient Investments LLC now owns 7,130 shares of the information services provider’s stock worth $629,000 after acquiring an additional 194 shares in the last quarter. Woodstock Corp grew its holdings in Alphabet by 1.4% during the 4th quarter. Woodstock Corp now owns 113,537 shares of the information services provider’s stock worth $10,017,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Trinity Legacy Partners LLC acquired a new position in Alphabet during the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 340 shares of the stock in a transaction dated Wednesday, January 25th. The shares were 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 of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,245 shares of company stock valued at $7,174,078. Insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Wednesday, March 8th. Tigress Financial lowered their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, Barclays upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.44.

Alphabet Stock Performance

Shares of GOOGL opened at $101.62 on Monday. The company has a 50-day simple moving average of $95.08 and a 200-day simple moving average of $96.09. 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 company has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a P/E/G ratio of 1.39 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business 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 in the previous year, the company posted $1.53 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

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.