State of Alaska Department of Revenue Purchases 3,219 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 22nd, 2023

State of Alaska Department of Revenue increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,009,295 shares of the information services provider’s stock after acquiring an additional 3,219 shares during the period. Alphabet comprises 1.1% of State of Alaska Department of Revenue’s holdings, making the stock its 6th largest holding. State of Alaska Department of Revenue’s holdings in Alphabet were worth $89,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its position in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning 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. Coston McIsaac & Partners grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Finally, Horizons Wealth Management bought a new stake in shares of Alphabet during the second quarter worth about $33,000. 34.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Loop Capital boosted their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Rosenblatt Securities reduced their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Tigress Financial reduced their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Barclays boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, KeyCorp reduced their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.83.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $104.92 on Wednesday. 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 twelve month low of $83.34 and a twelve month high of $143.79. The stock’s 50 day moving average is $95.67 and its 200-day moving average is $96.01. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.40 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the company earned $1.53 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 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, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on 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 owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock valued at $7,174,078 over the last ninety days. 11.44% of the stock is owned by company insiders.

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.