Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mayflower Financial Advisors LLC

Posted by Defense World Staff on Mar 31st, 2023

Mayflower Financial Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 92.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,877 shares of the information services provider’s stock after selling 34,595 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Alphabet were worth $254,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Spreng Capital Management Inc. grew its stake in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. boosted its stake in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. boosted its stake in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the last quarter. Private Advisory Group LLC boosted its stake in Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management boosted its stake in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a research report on Friday, March 17th. Truist Financial cut their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Credit Suisse Group lowered their target price on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Finally, New Street Research started coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $131.83.

Insider Activity

In related 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 shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, 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 a total of 73,865 shares of company stock worth $7,140,167 over the last three months. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.5 %

NASDAQ GOOGL opened at $100.89 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. 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 capitalization of $1.29 trillion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. The stock has a fifty day moving average of $97.23 and a 200-day moving average of $95.91.

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 the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

About Alphabet

(Get Rating)

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.