CMH Wealth Management LLC Has $15.35 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 23rd, 2023

CMH Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,970 shares of the information services provider’s stock after buying an additional 3,382 shares during the period. Alphabet accounts for 4.9% of CMH Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. CMH Wealth Management LLC’s holdings in Alphabet were worth $15,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Heartwood Wealth Advisors LLC raised its stake in Alphabet by 19.1% during the fourth quarter. Heartwood Wealth Advisors LLC now owns 3,860 shares of the information services provider’s stock worth $341,000 after buying an additional 620 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in Alphabet by 11.8% during the fourth quarter. CHICAGO TRUST Co NA now owns 34,613 shares of the information services provider’s stock worth $3,053,000 after buying an additional 3,651 shares during the last quarter. Avity Investment Management Inc. grew its holdings in Alphabet by 0.5% in the fourth quarter. Avity Investment Management Inc. now owns 123,807 shares of the information services provider’s stock worth $10,923,000 after purchasing an additional 672 shares during the period. Shira Ridge Wealth Management acquired a new stake in Alphabet in the fourth quarter worth $559,000. Finally, Solitude Financial Services grew its holdings in Alphabet by 17.3% in the fourth quarter. Solitude Financial Services now owns 19,208 shares of the information services provider’s stock worth $1,695,000 after purchasing an additional 2,834 shares during the period. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $103.37 on Thursday. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.40 and a beta of 1.09. 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 $83.34 and a 52 week high of $143.79. The firm’s 50-day simple moving average is $95.91 and its two-hundred day simple moving average is $96.07.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the prior year, the firm posted $1.53 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a report on Friday, March 17th. Barclays raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Morgan Stanley raised their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Evercore ISI reduced their price target 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. Finally, New Street Research assumed coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target for the company. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.83.

Insiders Place Their Bets

In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average price 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 in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,245 shares of company stock valued at $7,174,078. Company insiders own 11.44% of the company’s stock.

Alphabet Company 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.