Bard Financial Services Inc. Has $4.94 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 7th, 2023

Bard Financial Services Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,695 shares of the information services provider’s stock after selling 250 shares during the period. Bard Financial Services Inc.’s holdings in Alphabet were worth $4,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 worth $40,593,957,000 after purchasing an additional 400,930,216 shares during the period. BlackRock Inc. boosted its stake in Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 1,770.6% in 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 purchasing an additional 192,607,045 shares during the period. State Street Corp boosted its stake in 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 worth $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in 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 worth $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.

Alphabet Stock Up 3.8 %

Shares of GOOG opened at $108.90 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $137.70. The firm’s 50 day moving average is $98.46 and its 200-day moving average is $96.42. The stock has a market capitalization of $1.39 trillion, a PE ratio of 23.93, 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.

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 return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 5.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GOOG shares. Piper Sandler reduced their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. Bank of America increased their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. UBS Group increased their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Thursday. Finally, Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the sale, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by company insiders.

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.