112,430 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Trifecta Capital Advisors LLC

Posted by on Mar 26th, 2023

Trifecta Capital Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 112,430 shares of the information services provider’s stock, valued at approximately $9,976,000. Alphabet makes up about 4.0% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. OLD Second National Bank of Aurora boosted its stake in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Westchester Capital Management Inc. boosted its stake in Alphabet by 1,900.0% in the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC boosted its stake in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Saban Cheryl boosted its stake in Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 190 shares in the last quarter. Finally, Gould Capital LLC boosted its stake in Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GOOG shares. Cowen reduced their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Piper Sandler reduced their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Societe Generale reduced their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a report on Monday, February 6th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.11.

Insider Buying and Selling 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 on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares in the company, valued at $14,474,000. 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 purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last three months, insiders sold 74,245 shares of company stock valued at $7,174,078. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $106.06 on Friday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16. 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 stock has a market cap of $1.36 trillion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.44 and a beta of 1.09. The company has a 50-day moving average of $97.08 and a two-hundred day moving average of $96.59.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same period last year, the business posted $1.53 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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