Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Hoffman Alan N Investment Management

Posted by on Mar 20th, 2023

Hoffman Alan N Investment Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,480 shares of the information services provider’s stock after buying an additional 155 shares during the period. Alphabet comprises about 4.5% of Hoffman Alan N Investment Management’s investment portfolio, making the stock its 4th biggest holding. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $5,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management acquired a new position in Alphabet during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GOOGL shares. KeyCorp dropped their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Loop Capital boosted their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Barclays boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Tigress Financial dropped their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.44.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 over the last quarter. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Up 1.3 %

Shares of NASDAQ:GOOGL opened at $101.62 on Monday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. 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 has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a PEG ratio of 1.39 and a beta of 1.09. The company has a 50 day moving average price of $95.08 and a two-hundred day moving average price of $96.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued 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 $63.15 billion. During the same period in the previous year, the company posted $1.53 EPS. Analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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