Transform Wealth LLC Buys 12,569 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 24th, 2023

Transform Wealth LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 143,878 shares of the information services provider’s stock after purchasing an additional 12,569 shares during the period. Alphabet comprises 1.4% of Transform Wealth LLC’s holdings, making the stock its 17th largest position. Transform Wealth LLC’s holdings in Alphabet were worth $12,694,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. IAG Wealth Partners LLC lifted its stake in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $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% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $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% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners lifted its position in 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 acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management acquired a new stake in Alphabet during the second quarter worth approximately $33,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.2 %

NASDAQ:GOOGL opened at $105.60 on Friday. The firm has a market cap of $1.35 trillion, a P/E ratio of 23.21, 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 fifty-two week low of $83.34 and a fifty-two week high of $143.79. The firm has a 50-day simple moving average of $96.20 and a two-hundred day simple moving average of $96.13.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data 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). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the business posted $1.53 earnings per share. Analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now owns 144,740 shares of the company’s stock, valued at $14,474,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold 74,245 shares of company stock worth $7,174,078 over the last three months. 11.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOGL shares. JMP Securities restated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Bank of America raised their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. StockNews.com started coverage on shares of Alphabet in a research report on Thursday, March 16th. They set a “hold” rating for the company. Stifel Nicolaus started coverage on shares of Alphabet in a research report on Monday. They set a “buy” rating and a $130.00 price objective for the company. Finally, Jefferies Financial Group restated a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Four 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.83.

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.