Greenleaf Trust Purchases 9,612 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 7th, 2023

Greenleaf Trust lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,381 shares of the information services provider’s stock after acquiring an additional 9,612 shares during the quarter. Alphabet makes up approximately 0.5% of Greenleaf Trust’s holdings, making the stock its 13th largest holding. Greenleaf Trust’s holdings in Alphabet were worth $37,034,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GOOG. Daymark Wealth Partners LLC bought a new stake in Alphabet during the 4th quarter worth about $978,000. Beaumont Financial Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $1,559,000. Mayflower Financial Advisors LLC grew its stake in shares of Alphabet by 7.5% during the fourth quarter. Mayflower Financial Advisors LLC now owns 23,232 shares of the information services provider’s stock valued at $2,061,000 after purchasing an additional 1,622 shares during the last quarter. James Hambro & Partners increased its holdings in shares of Alphabet by 3.8% in the fourth quarter. James Hambro & Partners now owns 770,055 shares of the information services provider’s stock valued at $68,336,000 after purchasing an additional 28,006 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Alphabet by 1.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 569,470 shares of the information services provider’s stock worth $50,529,000 after purchasing an additional 8,718 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, 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 value of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on 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 in the company, valued at $7,922,966.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 in the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James lifted their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. Oppenheimer upped their target price 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. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Finally, Piper Sandler cut their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Alphabet Trading Up 3.8 %

NASDAQ:GOOG opened at $108.90 on Friday. The company has a market cap of $1.39 trillion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $137.70. The business has a 50 day moving average price of $98.46 and a two-hundred day moving average price 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 (NASDAQ:GOOG – Get Rating) last announced 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 business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. As a group, analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

About Alphabet

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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.