Bullseye Investment Management LLC Acquires 7,120 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 5th, 2023

Bullseye Investment Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 28.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,351 shares of the information services provider’s stock after acquiring an additional 7,120 shares during the period. Alphabet accounts for about 2.4% of Bullseye Investment Management LLC’s investment portfolio, making the stock its 17th largest holding. Bullseye Investment Management LLC’s holdings in Alphabet were worth $2,871,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Verde Capital Management boosted its stake in Alphabet by 12.6% during the 4th quarter. Verde Capital Management now owns 21,443 shares of the information services provider’s stock valued at $1,903,000 after purchasing an additional 2,395 shares during the last quarter. Fulcrum Capital LLC boosted its stake in Alphabet by 29.0% during the 4th quarter. Fulcrum Capital LLC now owns 15,408 shares of the information services provider’s stock valued at $1,367,000 after purchasing an additional 3,460 shares during the last quarter. Osborne Partners Capital Management LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Osborne Partners Capital Management LLC now owns 185,324 shares of the information services provider’s stock valued at $16,444,000 after purchasing an additional 1,245 shares during the last quarter. Forum Financial Management LP boosted its stake in Alphabet by 4.9% during the 4th quarter. Forum Financial Management LP now owns 41,292 shares of the information services provider’s stock valued at $3,664,000 after purchasing an additional 1,922 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in Alphabet by 2.1% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 443,680 shares of the information services provider’s stock valued at $39,368,000 after purchasing an additional 9,317 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $128.00 price target on Alphabet in a research note on Friday, February 3rd. Bank of America raised their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. Piper Sandler lowered their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Finally, Raymond James lifted their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.11.

Alphabet Trading Up 0.2 %

GOOG opened at $105.12 on Wednesday. The firm has a market cap of $1.35 trillion, a P/E ratio of 23.10, a P/E/G ratio of 1.44 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $143.59. 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 stock has a 50-day moving average of $98.11 and a 200 day moving average of $96.28.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter last year, the firm earned $1.53 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 5.11 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Insiders sold 112,192 shares of company stock worth $11,373,417 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.