Onyx Bridge Wealth Group LLC Has $1.16 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Mar 21st, 2023

Onyx Bridge Wealth Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,208 shares of the information services provider’s stock after acquiring an additional 2,898 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Alphabet were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOG. Vanguard Group Inc. increased its stake in Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. lifted its holdings in Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares during the period. State Street Corp lifted its holdings in Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Raymond James increased 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. Credit Suisse Group set a $136.00 price target on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $135.11.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 380 shares of the 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. Insiders sold 74,245 shares of company stock valued at $7,174,078 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG stock opened at $101.93 on Tuesday. The firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.41 and a beta of 1.09. The firm has a 50-day simple moving average of $95.96 and a two-hundred day simple moving average of $96.58. Alphabet Inc. has a one year low of $83.45 and a one year high of $144.16. 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:GOOG – Get Rating) last released 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 firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal 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:GOOG)

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