Northwest Investment Counselors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 26th, 2023

Northwest Investment Counselors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,596 shares of the information services provider’s stock after buying an additional 2,805 shares during the quarter. Alphabet makes up approximately 1.1% of Northwest Investment Counselors LLC’s investment portfolio, making the stock its 22nd largest position. Northwest Investment Counselors LLC’s holdings in Alphabet were worth $3,957,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOG. Totem Point Management LLC raised its stake in shares of Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F raised its stake in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new position in Alphabet in the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. raised its stake in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. raised its stake in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOG opened at $106.06 on Friday. The stock has a market cap of $1.36 trillion, a PE ratio of 23.30, a P/E/G ratio of 1.44 and a beta of 1.09. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $144.16. The stock has a fifty day simple moving average of $97.08 and a 200-day simple moving average of $96.59.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GOOG shares. 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 note on Tuesday, January 31st. Piper Sandler reduced their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research note on Thursday, February 9th. Oppenheimer increased their price objective on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Finally, Cowen cut their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Activity at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction that occurred on 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction on 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 transaction, the insider now directly owns 1,709,527 shares in the company, valued at $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 in the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.