Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Solitude Financial Services

Posted by on Mar 23rd, 2023

Solitude Financial Services lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,208 shares of the information services provider’s stock after purchasing an additional 2,834 shares during the period. Alphabet comprises approximately 1.2% of Solitude Financial Services’ portfolio, making the stock its 19th largest position. Solitude Financial Services’ holdings in Alphabet were worth $1,695,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GOOGL. IAG Wealth Partners LLC lifted its position in shares of 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 purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC lifted its position in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners lifted its position in Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new stake in Alphabet in the second quarter valued at $33,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOGL shares. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 price target on shares of Alphabet in a research report on Friday, February 10th. Evercore ISI reduced their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Stifel Nicolaus began coverage on shares of Alphabet in a report on Monday. They issued a “buy” rating and a $130.00 target price for the company. Loop Capital boosted their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.83.

Insider Activity at Alphabet

In other news, 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 bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by insiders.

Alphabet Trading Down 1.5 %

NASDAQ GOOGL opened at $103.37 on Thursday. 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 firm has a market capitalization of $1.32 trillion, a PE ratio of 22.71, a P/E/G ratio of 1.40 and a beta of 1.09. The stock’s 50 day moving average is $95.91 and its 200 day moving average is $96.07.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $63.15 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. Research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

About Alphabet

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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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