MJP Associates Inc. ADV Purchases 156 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 3rd, 2023

MJP Associates Inc. ADV boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,512 shares of the information services provider’s stock after buying an additional 156 shares during the period. Alphabet comprises 0.4% of MJP Associates Inc. ADV’s portfolio, making the stock its 26th largest holding. MJP Associates Inc. ADV’s holdings in Alphabet were worth $1,457,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Bornite Capital Management LP bought a new position in Alphabet during the first quarter worth about $16,688,000. Markel Corp raised its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its stake in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its stake in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note 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. Tigress Financial decreased their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. MKM Partners boosted their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Finally, StockNews.com assumed coverage on Alphabet in a report on Thursday, March 16th. They issued a “hold” rating for the company. Four research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.39.

Alphabet Stock Up 2.8 %

Alphabet stock opened at $103.73 on Monday. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.39 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week 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 company’s 50 day simple moving average is $97.34 and its 200 day simple moving average is $95.74.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data 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). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the previous year, the business posted $1.53 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current year.

Insider Buying and Selling

In related news, insider John Kent Walker sold 29,006 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The disclosure for this sale can be found here. In the last three months, insiders sold 102,871 shares of company stock valued at $10,094,138. 11.44% of the stock is owned by corporate insiders.

Alphabet 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.