Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Delta Investment Management LLC

Posted by Defense World Staff on Apr 1st, 2023

Delta Investment Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,965 shares of the information services provider’s stock after selling 222 shares during the period. Alphabet accounts for about 1.0% of Delta Investment Management LLC’s holdings, making the stock its 23rd biggest holding. Delta Investment Management LLC’s holdings in Alphabet were worth $3,173,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Brave Asset Management Inc. increased its position in Alphabet by 7.9% during the fourth quarter. Brave Asset Management Inc. now owns 13,620 shares of the information services provider’s stock worth $1,202,000 after purchasing an additional 1,000 shares during the last quarter. Strategic Investment Advisors MI increased its position in Alphabet by 8.2% during the fourth quarter. Strategic Investment Advisors MI now owns 55,032 shares of the information services provider’s stock worth $4,855,000 after purchasing an additional 4,170 shares during the last quarter. Cottage Street Advisors LLC increased its position in Alphabet by 4,251.2% during the fourth quarter. Cottage Street Advisors LLC now owns 876,339 shares of the information services provider’s stock worth $885,000 after purchasing an additional 856,199 shares during the last quarter. Abeille Asset Management SA boosted its stake in Alphabet by 27.7% during the fourth quarter. Abeille Asset Management SA now owns 1,114,961 shares of the information services provider’s stock worth $98,373,000 after buying an additional 241,942 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its stake in Alphabet by 356.2% during the fourth quarter. Stratos Wealth Advisors LLC now owns 46,500 shares of the information services provider’s stock worth $4,103,000 after buying an additional 36,307 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. Wells Fargo & Company lifted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research report on Friday, March 17th. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. MKM Partners boosted their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Loop Capital boosted their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.39.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,871 shares of company stock worth $10,094,138. 11.44% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $103.73 on Friday. 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’s 50-day moving average price is $97.34 and its two-hundred day moving average price is $95.86. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The stock has a market cap of $1.33 trillion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 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 business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

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.

Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Delta Investment Management LLC

Wall Street Analyst Weigh In

Insiders Place Their Bets

Alphabet Price Performance

Alphabet Company Profile

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