Vigilant Capital Management LLC Has $357,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 9th, 2023

Vigilant Capital Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,018 shares of the information services provider’s stock after buying an additional 418 shares during the quarter. Vigilant Capital Management LLC’s holdings in Alphabet were worth $357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1,885.5% during 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 acquiring an additional 400,930,216 shares during the period. BlackRock Inc. lifted its stake 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 period. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 192,607,045 shares during the period. State Street Corp grew its stake in shares of 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 valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of 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 valued at $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. 28.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Credit Suisse Group set a $136.00 target price on shares of Alphabet in a research note on Friday, February 3rd. UBS Group boosted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Raymond James boosted their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Piper Sandler decreased their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was purchased at an average price of $29.29 per share, with a total value 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 $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold 112,192 shares of company stock valued at $11,373,417 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 3.8 %

Shares of NASDAQ:GOOG opened at $108.90 on Friday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $137.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market capitalization of $1.39 trillion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The company has a 50-day simple moving average of $98.63 and a 200 day simple moving average of $96.42.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (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 quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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