Aevitas Wealth Management Inc. Acquires 1,608 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 5th, 2023

Aevitas Wealth Management Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,090 shares of the information services provider’s stock after purchasing an additional 1,608 shares during the period. Alphabet accounts for 1.6% of Aevitas Wealth Management Inc.’s portfolio, making the stock its 17th largest holding. Aevitas Wealth Management Inc.’s holdings in Alphabet were worth $2,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Alphabet by 1,885.5% during the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after purchasing an additional 400,930,216 shares during the last quarter. BlackRock Inc. grew its holdings in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares during the last quarter. State Street Corp grew its holdings in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Alphabet by 1,862.3% during the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. The Goldman Sachs Group set a $128.00 price target on Alphabet in a report on Friday, February 3rd. Royal Bank of Canada set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research note on Thursday, February 9th. Raymond James raised their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.2 %

Shares of NASDAQ GOOG opened at $105.12 on Wednesday. The stock has a market cap of $1.35 trillion, a PE ratio of 23.10, a PEG ratio of 1.44 and a beta of 1.10. The business has a fifty day moving average of $98.11 and a two-hundred day moving average of $96.28. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $143.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data 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 company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 5.11 earnings per share 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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