Benchmark Financial Wealth Advisors LLC Has $1.20 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 6th, 2023

Benchmark Financial Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,545 shares of the information services provider’s stock after purchasing an additional 173 shares during the quarter. Alphabet comprises 0.7% of Benchmark Financial Wealth Advisors LLC’s holdings, making the stock its 22nd biggest position. Benchmark Financial Wealth Advisors LLC’s holdings in Alphabet were worth $1,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. raised its holdings in Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Alphabet during the 3rd quarter worth about $55,305,000. Griffin Asset Management Inc. raised its holdings in Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in shares of Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after acquiring an additional 65,329 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its stake in shares of Alphabet by 1,915.2% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after acquiring an additional 123,356 shares during the last quarter. 34.06% of the stock is owned by institutional investors.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $104.47 on Thursday. The company has a market cap of $1.34 trillion, a PE ratio of 22.96, a PEG ratio of 1.43 and a beta of 1.10. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $139.36. The stock has a 50 day moving average of $97.76 and a 200-day moving average of $95.82.

Alphabet (NASDAQ:GOOGL – Get Rating) last released 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 company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the company posted $1.53 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOGL. MKM Partners upped their price target on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Loop Capital upped their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Tigress Financial lowered their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.39.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on 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 owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on 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 owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 112,192 shares of company stock worth $11,373,417. Company insiders own 11.44% 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.