AFS Financial Group LLC Invests $1.50 Million in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 6th, 2023

AFS Financial Group LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,937 shares of the information services provider’s stock, valued at approximately $1,503,000. Alphabet accounts for approximately 1.1% of AFS Financial Group LLC’s portfolio, making the stock its 20th largest position.

A number of other large investors have also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora boosted its stake in Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares during the period. Westchester Capital Management Inc. boosted its stake in Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares during the period. Carolina Wealth Advisors LLC boosted its stake in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the period. Saban Cheryl boosted its stake in Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after buying an additional 190 shares during the period. Finally, Gould Capital LLC boosted its stake in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the period. 28.69% of the stock is owned by institutional investors.

Alphabet Stock Down 0.2 %

Shares of NASDAQ:GOOG opened at $104.95 on Thursday. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $139.85. The company has a market cap of $1.34 trillion, a PE ratio of 23.06, a P/E/G ratio of 1.44 and a beta of 1.10. 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 50-day moving average is $98.27 and its 200 day moving average is $96.34.

Alphabet (NASDAQ:GOOG – Get Rating) last announced 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). 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 in the prior year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Bank of America lifted their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research report on Monday, February 6th. Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price target on Alphabet in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price target on Alphabet in a research report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock worth $11,373,417 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.