Avity Investment Management Inc. Has $26.47 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Mar 22nd, 2023

Avity Investment Management Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,309 shares of the information services provider’s stock after acquiring an additional 1,731 shares during the quarter. Alphabet accounts for 2.7% of Avity Investment Management Inc.’s holdings, making the stock its 18th biggest position. Avity Investment Management Inc.’s holdings in Alphabet were worth $26,469,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,885.5% during the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. raised its stake in shares of Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares in the last quarter. State Street Corp raised its stake in shares of Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Alphabet by 1,862.3% during the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after purchasing an additional 59,964,963 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $105.84 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock’s fifty day moving average price is $96.29 and its two-hundred day moving average price is $96.56. Alphabet Inc. has a one year low of $83.45 and a one year high of $144.16. The firm has a market cap of $1.36 trillion, a price-to-earnings ratio of 23.26, a P/E/G 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 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates 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 prior year, the company earned $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. Oppenheimer upped their price objective on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 price target on Alphabet in a research note on Friday, February 3rd. UBS Group set a $120.00 price target on Alphabet in a research note on Monday, February 6th. Credit Suisse Group set a $136.00 price target on Alphabet in a research note on Friday, February 3rd. Finally, Societe Generale dropped their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders have sold 74,245 shares of company stock valued at $7,174,078. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Get Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.