Grimes & Company Inc. Has $6.17 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 7th, 2023

Grimes & Company Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,523 shares of the information services provider’s stock after selling 830 shares during the period. Grimes & Company Inc.’s holdings in Alphabet were worth $6,169,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOG. Walled Lake Planning & Wealth Management LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock worth $3,281,000 after purchasing an additional 32,414 shares in the last quarter. Grand Jean Capital Management Inc. boosted its position in shares of Alphabet by 1,926.2% during the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock worth $13,186,000 after purchasing an additional 130,367 shares in the last quarter. Connecticut Wealth Management LLC boosted its position in shares of Alphabet by 1,415.4% during the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after purchasing an additional 7,799 shares in the last quarter. Matthew Goff Investment Advisor LLC boosted its position 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 purchasing an additional 300 shares in the last quarter. Finally, Gould Capital LLC boosted its position in shares of 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. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the 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 transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 in the last three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research report on Thursday, February 9th. Raymond James boosted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Alphabet Stock Up 3.8 %

Shares of GOOG stock opened at $108.90 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm’s 50-day moving average is $98.46 and its 200-day moving average is $96.42. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $137.70.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 5.11 EPS for the current 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.