ZWJ Investment Counsel Inc. Has $3.24 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 8th, 2023

ZWJ Investment Counsel Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,717 shares of the information services provider’s stock after buying an additional 289 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Alphabet were worth $3,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. IAG Wealth Partners LLC lifted its stake in Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its stake in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC raised its stake in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the period. Coston McIsaac & Partners raised its stake in Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management bought a new stake in Alphabet in the second quarter valued at approximately $33,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $108.42 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $137.16. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.39 trillion, a PE ratio of 23.83, a P/E/G ratio of 1.45 and a beta of 1.10. The stock has a 50-day moving average price of $98.16 and a two-hundred day moving average price of $95.95.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 $63.15 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. Analysts expect that Alphabet Inc. will post 5.11 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following 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 filing with the SEC, which is available through this link. In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was 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. In the last three months, insiders have sold 112,192 shares of company stock valued at $11,373,417. 11.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research note on Friday, March 17th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler decreased their price objective on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Tigress Financial decreased their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Finally, Truist Financial reduced their price objective on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.17.

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.