Fiduciary Alliance LLC Takes $3.86 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 30th, 2023

Fiduciary Alliance LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 43,770 shares of the information services provider’s stock, valued at approximately $3,862,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spreng Capital Management Inc. lifted its holdings in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. lifted its holdings in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. lifted its holdings in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC lifted its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management lifted its holdings in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the period. 34.06% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $101.39 on Thursday. The stock has a 50-day moving average price of $97.07 and a two-hundred day moving average price of $95.87. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. 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 company has a market cap of $1.30 trillion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly 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). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period last year, the firm posted $1.53 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Insiders have sold a total of 73,865 shares of company stock worth $7,140,167 over the last quarter. 11.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. MKM Partners lifted their price objective on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Mizuho reduced their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Barclays lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a report on Wednesday, March 8th. Finally, Rosenblatt Securities reduced their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.83.

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.