Riverbridge Partners LLC Has $39.07 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Mar 22nd, 2023

Riverbridge Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 442,777 shares of the information services provider’s stock after selling 20,540 shares during the quarter. Riverbridge Partners LLC’s holdings in Alphabet were worth $39,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $114,000. Bridgefront Capital LLC bought a new stake in Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet during the first quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $281,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GOOGL shares. Tigress Financial lowered their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Barclays boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. New Street Research started coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, MKM Partners boosted their price objective on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $131.83.

Insider Buying and Selling at Alphabet

In other 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 stock was purchased at an average price 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 approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available at 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 dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’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 sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. Insiders own 11.44% of the company’s stock.

Alphabet Trading Up 3.7 %

GOOGL opened at $104.92 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. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The firm has a market capitalization of $1.34 trillion, a PE ratio of 23.05, a P/E/G ratio of 1.40 and a beta of 1.09. The company’s 50-day moving average is $95.67 and its 200 day moving average is $96.01.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted 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 business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the prior year, the company earned $1.53 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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