RVW Wealth LLC Purchases 913 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 24th, 2023

RVW Wealth LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,093 shares of the information services provider’s stock after purchasing an additional 913 shares during the quarter. RVW Wealth LLC’s holdings in Alphabet were worth $538,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. DC Investments Management LLC bought a new position in shares of Alphabet during the first quarter valued at $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet during the first quarter valued at $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet during the first quarter valued at $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 valued at $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at $281,000. Institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv bought 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, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $105.60 on Friday. The stock has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $96.20 and a 200-day moving average price of $96.13. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter last year, the firm posted $1.53 EPS. Equities analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Stifel Nicolaus began coverage on Alphabet in a report on Monday. They set a “buy” rating and a $130.00 price target for the company. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Rosenblatt Securities dropped their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Morgan Stanley increased their price objective on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Wednesday, March 8th. Four 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 stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target 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.