SNS Financial Group LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 6th, 2023

SNS Financial Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,844 shares of the information services provider’s stock after buying an additional 442 shares during the period. SNS Financial Group LLC’s holdings in Alphabet were worth $1,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC grew its position in Alphabet by 1,900.0% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after buying an additional 32,414 shares during the last quarter. Grand Jean Capital Management Inc. lifted its stake in shares of Alphabet by 1,926.2% in the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock worth $13,186,000 after acquiring an additional 130,367 shares during the period. Connecticut Wealth Management LLC boosted its holdings in shares of Alphabet by 1,415.4% in the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock valued at $803,000 after acquiring an additional 7,799 shares in the last quarter. Matthew Goff Investment Advisor LLC increased its stake in shares of Alphabet by 4.2% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock worth $655,000 after acquiring an additional 300 shares during the period. Finally, Gould Capital LLC raised its holdings in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after purchasing an additional 301 shares in the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $104.95 on Thursday. 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 firm 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 firm has a 50 day simple moving average of $98.27 and a 200-day simple moving average of $96.34. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $139.85.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 5.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOG shares. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. Oppenheimer increased their target price on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Bank of America boosted 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. UBS Group set a $120.00 price objective on Alphabet in a report on Monday, February 6th. Finally, Cowen lowered their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.11.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was 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 of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,192 shares of company stock worth $11,373,417. 12.99% of the stock is currently owned by insiders.

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.