Parkside Investments LLC Acquires 3,625 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Mar 21st, 2023

Parkside Investments LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,415 shares of the information services provider’s stock after purchasing an additional 3,625 shares during the quarter. Alphabet comprises about 2.1% of Parkside Investments LLC’s portfolio, making the stock its 10th biggest position. Parkside Investments LLC’s holdings in Alphabet were worth $10,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora increased its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Westchester Capital Management Inc. increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after buying an additional 190 shares during the last quarter. Finally, Gould Capital LLC lifted its stake in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after buying an additional 301 shares during the period. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $101.93 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The stock’s 50-day moving average price is $95.96 and its 200-day moving average price is $96.58. The stock has a market capitalization of $1.31 trillion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. As a group, equities analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

GOOG has been the topic of several research reports. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a report on Monday, February 6th. UBS Group set a $120.00 target price on Alphabet in a report on Monday, February 6th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, Cowen reduced their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. 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, the company has an average rating of “Moderate Buy” and an average target price of $135.11.

Insider Buying and Selling

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Ann Mather sold 380 shares of the business’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 sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last quarter, insiders sold 74,245 shares of company stock valued at $7,174,078. 12.99% of the stock is owned by corporate insiders.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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