Artemis Investment Management LLP Has $157.43 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 6th, 2023

Artemis Investment Management LLP decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,765,756 shares of the information services provider’s stock after selling 246,239 shares during the period. Alphabet makes up about 1.8% of Artemis Investment Management LLP’s portfolio, making the stock its 11th biggest position. Artemis Investment Management LLP’s holdings in Alphabet were worth $157,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hoxton Planning & Management LLC bought a new stake in Alphabet during the 4th quarter worth $270,000. SNS Financial Group LLC raised its stake in Alphabet by 3.3% during the 4th quarter. SNS Financial Group LLC now owns 13,844 shares of the information services provider’s stock worth $1,228,000 after buying an additional 442 shares during the period. Triton Wealth Management PLLC raised its stake in Alphabet by 5.5% during the 4th quarter. Triton Wealth Management PLLC now owns 9,780 shares of the information services provider’s stock worth $903,000 after buying an additional 510 shares during the period. Pinnacle Associates Ltd. raised its stake in Alphabet by 4.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 380,112 shares of the information services provider’s stock worth $37,099,000 after buying an additional 14,600 shares during the period. Finally, Tarbox Family Office Inc. raised its stake in Alphabet by 1,833.3% during the 4th quarter. Tarbox Family Office Inc. now owns 3,016 shares of the information services provider’s stock worth $268,000 after buying an additional 2,860 shares during the period. Institutional investors own 28.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOG shares. The Goldman Sachs Group set a $128.00 price target on Alphabet in a research note on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a report on Thursday, February 9th. Bank of America upped their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Cowen reduced their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Finally, Piper Sandler reduced their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value 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 SEC, which is accessible through this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $3,349,931.34. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 112,192 shares of company stock worth $11,373,417. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $104.95 on Thursday. The firm has a market cap of $1.34 trillion, a PE ratio of 23.06, a P/E/G ratio of 1.45 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. The firm has a fifty day simple moving average of $98.27 and a two-hundred 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 posted 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 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% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current 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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