Adviser Investments LLC Sells 207 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 30th, 2023

Adviser Investments LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,389 shares of the information services provider’s stock after selling 207 shares during the period. Adviser Investments LLC’s holdings in Alphabet were worth $3,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. IAG Wealth Partners LLC boosted its stake in Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC boosted its stake 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 valued at $27,000 after buying an additional 266 shares during the period. Laurel Wealth Planning LLC boosted its stake 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 valued at $29,000 after buying an additional 285 shares during the period. Coston McIsaac & Partners boosted its stake in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management bought a new stake in Alphabet during the second quarter valued at $33,000. 34.06% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $101.39 on Thursday. The stock’s 50 day simple moving average is $97.07 and its two-hundred day simple moving average is $95.87. 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 market cap of $1.30 trillion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.46 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $1.53 earnings per share. As a group, analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,865 shares of company stock valued at $7,140,167. 11.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. MKM Partners lifted their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Morgan Stanley raised their price target on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $130.00 price target on shares of Alphabet in a research report on Friday, February 10th. Mizuho lowered their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Loop Capital raised their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus 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.