Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Alpha Cubed Investments LLC

Posted by Defense World Staff on Apr 6th, 2023

Alpha Cubed Investments LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,916 shares of the information services provider’s stock after buying an additional 4,274 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $4,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Financial Advisors Network Inc. raised its position in Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. raised its position in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC raised its position in Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F raised its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC raised its position in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research report on Thursday, February 9th. Credit Suisse Group set a $136.00 target price on Alphabet in a report on Friday, February 3rd. Raymond James upped their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. UBS Group set a $120.00 target price on Alphabet in a report on Monday, February 6th. Finally, Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction on Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold 112,192 shares of company stock worth $11,373,417 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.2 %

Alphabet stock opened at $104.95 on Thursday. The stock 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 stock has a 50-day moving average price of $98.27 and a 200 day moving average price of $96.34. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $139.85. 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 (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 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 analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. Equities research analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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