Asset Management Corp IL ADV Sells 2,625 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 8th, 2023

Asset Management Corp IL ADV reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 15.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,251 shares of the information services provider’s stock after selling 2,625 shares during the period. Alphabet accounts for about 1.1% of Asset Management Corp IL ADV’s portfolio, making the stock its 22nd largest position. Asset Management Corp IL ADV’s holdings in Alphabet were worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 3,275.0% during 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 in the last quarter. Artemis Wealth Advisors LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC grew its holdings in shares of Alphabet by 1,900.0% during 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 last quarter. Coston McIsaac & Partners grew its holdings in shares of Alphabet by 1,900.0% during 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 last quarter. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet during the second quarter valued at $33,000. 34.06% of the stock is currently owned by institutional investors.

Alphabet Trading Up 3.8 %

Shares of Alphabet stock opened at $108.42 on Friday. The stock has a market cap of $1.39 trillion, a P/E ratio of 23.83, a P/E/G ratio of 1.45 and a beta of 1.10. The stock’s 50 day simple moving average is $98.16 and its 200-day simple moving average is $95.95. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $137.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly 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 company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. Analysts predict that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. KeyCorp dropped their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Credit Suisse Group dropped their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Morgan Stanley raised their target price on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Barclays increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Alphabet in a report on Thursday, March 16th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $131.17.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’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 completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,192 shares of company stock worth $11,373,417. 11.44% 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.