Hudson Capital Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 28th, 2023

Hudson Capital Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,748 shares of the information services provider’s stock after acquiring an additional 5,336 shares during the period. Hudson Capital Management LLC’s holdings in Alphabet were worth $2,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. grew its position in Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after acquiring an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Alphabet in the third quarter worth about $55,305,000. Griffin Asset Management Inc. grew its position in Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after acquiring an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. grew its position in Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after acquiring an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its position in Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after acquiring an additional 123,356 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GOOGL shares. Rosenblatt Securities dropped their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Credit Suisse Group decreased their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Stifel Nicolaus started coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Wednesday, March 8th. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $131.83.

Insider Activity

In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, 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. Insiders have sold 73,865 shares of company stock valued at $7,140,167 over the last ninety days. 11.44% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $102.46 on Tuesday. The firm’s fifty day simple moving average is $96.67 and its two-hundred day simple moving average is $95.90. 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 12-month low of $83.34 and a 12-month high of $143.79. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.46 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. Analysts forecast 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.