Valley National Advisers Inc. Sells 744 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Mar 22nd, 2023

Valley National Advisers Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,665 shares of the information services provider’s stock after selling 744 shares during the period. Valley National Advisers Inc.’s holdings in Alphabet were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. OLD Second National Bank of Aurora increased its position in Alphabet by 1,900.0% in the 3rd 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 holdings in shares of Alphabet by 1,900.0% in the third 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 raised its position in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Saban Cheryl lifted its holdings in Alphabet by 1,900.0% during the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after buying an additional 190 shares in the last quarter. Finally, Gould Capital LLC boosted its position in Alphabet by 2,150.0% in the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Societe Generale dropped their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Piper Sandler dropped their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a research note on Monday, February 6th. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a research report on Thursday, February 9th. Finally, Cowen cut their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $135.11.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated 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 owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock valued at $7,174,078 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $105.84 on Wednesday. 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 52 week low of $83.45 and a 52 week high of $144.16. The company’s 50 day moving average price is $96.29 and its two-hundred day moving average price is $96.56. The company has a market capitalization of $1.36 trillion, a P/E ratio of 23.26, 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 data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. On average, analysts expect 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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