Lion Street Advisors LLC Sells 4,638 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 1st, 2023

Lion Street Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 93.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 304 shares of the information services provider’s stock after selling 4,638 shares during the quarter. Alphabet accounts for approximately 0.5% of Lion Street Advisors LLC’s holdings, making the stock its 27th largest holding. Lion Street Advisors LLC’s holdings in Alphabet were worth $900,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. raised 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 worth $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. increased its stake in 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 last quarter. Maple Capital Management Inc. increased its stake in 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 last quarter. Private Advisory Group LLC increased its stake in 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 last quarter. Finally, Weik Capital Management increased its stake in 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 last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was 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 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 hyperlink. In related 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 bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’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 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 disclosure for this sale can be found here. Insiders sold a total of 102,871 shares of company stock valued at $10,094,138 over the last 90 days. 11.44% of the stock is owned by company insiders.

Alphabet Trading Up 2.8 %

Shares of GOOGL 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. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. The firm has a 50-day moving average price of $97.34 and a 200 day moving average price of $95.86. The firm has a market capitalization of $1.33 trillion, a P/E ratio of 22.79, a P/E/G ratio of 1.40 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results 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 company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period last year, the business earned $1.53 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research note on Thursday, March 16th. Loop Capital increased their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Finally, BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a research note on Friday, March 17th. Four 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.39.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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