Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Lake Street Financial LLC

Posted by Defense World Staff on Apr 8th, 2023

Lake Street Financial LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,660 shares of the information services provider’s stock after purchasing an additional 4,598 shares during the period. Alphabet accounts for about 1.4% of Lake Street Financial LLC’s holdings, making the stock its 10th biggest holding. Lake Street Financial LLC’s holdings in Alphabet were worth $6,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Vanguard Group Inc. increased its position in Alphabet by 1,885.5% during the third 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 last quarter. BlackRock Inc. increased its position in Alphabet by 1,857.3% during the third 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 last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 1,770.6% during the third 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 boosted its stake in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Alphabet by 1,862.3% during the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after buying an additional 59,964,963 shares during the period. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 3.8 %

GOOG stock opened at $108.90 on Friday. 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 Inc. has a twelve month low of $83.45 and a twelve month high of $137.70. The company’s 50 day moving average is $98.63 and its two-hundred day moving average is $96.46. The stock has a market cap of $1.39 trillion, a P/E ratio of 23.93, a PEG ratio of 1.45 and a beta of 1.10.

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 analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. Research analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Cowen lowered their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Royal Bank of Canada set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research note on Thursday, February 9th. Finally, Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Activity

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost 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 approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s 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 transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 purchased at an average cost of $29.29 per share, for a total transaction 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 approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.