Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Mayflower Financial Advisors LLC

Posted by Defense World Staff on Apr 7th, 2023

Mayflower Financial Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,232 shares of the information services provider’s stock after acquiring an additional 1,622 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Alphabet were worth $2,061,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. raised its holdings in Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Alphabet by 1,862.3% in the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction 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 in the company, valued at $4,197,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Over the last quarter, insiders have 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 $108.90 on Friday. The stock has a market cap of $1.39 trillion, a PE ratio of 23.93, a PEG ratio of 1.45 and a beta of 1.10. The business has a 50-day simple moving average of $98.46 and a two-hundred day simple moving average of $96.42. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $137.70.

Alphabet (NASDAQ:GOOG – Get Rating) last announced 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 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 the consensus estimate of $76.49 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOG. Cowen decreased their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Oppenheimer raised their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Raymond James raised their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Royal Bank of Canada set a $130.00 price objective on Alphabet in a report on Friday, February 3rd. Finally, Bank of America lifted their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.24.

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.