Keudell Morrison Wealth Management Buys 416 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 2nd, 2023

Keudell Morrison Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,352 shares of the information services provider’s stock after buying an additional 416 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Alphabet were worth $1,090,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOGL. IAG Wealth Partners LLC boosted its position in Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% during the 3rd 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 last quarter. Laurel Wealth Planning LLC lifted its position in shares of Alphabet by 1,900.0% during the 3rd 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 last quarter. Coston McIsaac & Partners lifted its position in shares of Alphabet by 1,900.0% during the 3rd 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 last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Alphabet during the 2nd quarter valued at $33,000. Institutional investors own 34.06% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, January 4th. The shares were 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 $2,289,870.30. 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. Corporate insiders own 11.44% of the company’s stock.

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 target on the stock in a research report on Friday, March 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price target on shares of Alphabet in a research report on Friday, February 10th. StockNews.com started coverage on Alphabet in a report on Thursday, March 16th. They set a “hold” rating on the stock. MKM Partners increased their price objective on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, New Street Research started coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $131.39.

Alphabet Stock Performance

GOOGL stock opened at $103.73 on Friday. The company has a market cap of $1.33 trillion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock’s fifty day moving average price is $97.34 and its 200-day moving average price is $95.80.

Alphabet (NASDAQ:GOOGL – Get Rating) last released 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 during 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 quarter last year, the business earned $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

About Alphabet

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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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