Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Intrinsic Value Partners LLC

Posted by Defense World Staff on Mar 23rd, 2023

Intrinsic Value Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,970 shares of the information services provider’s stock after selling 500 shares during the quarter. Alphabet makes up 4.2% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $3,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Bornite Capital Management LP purchased a new stake in shares of Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp raised its stake in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank raised its stake in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price for the company. Stifel Nicolaus began coverage on Alphabet in a report on Monday. They issued a “buy” rating and a $130.00 price target on the stock. Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Mizuho lowered their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $131.83.

Insider Transactions at Alphabet

In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction 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 directly owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction that occurred on 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 acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 over the last quarter. Corporate insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $103.37 on Thursday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $95.91 and its two-hundred day moving average price is $96.07. The stock has a market capitalization 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.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data 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 net margin of 21.20% and a return on equity of 23.54%. 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 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

About Alphabet

(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.