Financial Advantage Inc. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 9th, 2023

Financial Advantage Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,979 shares of the information services provider’s stock after acquiring an additional 1,235 shares during the period. Alphabet comprises approximately 4.9% of Financial Advantage Inc.’s portfolio, making the stock its 4th biggest holding. Financial Advantage Inc.’s holdings in Alphabet were worth $5,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Blueprint LLC grew its position in Alphabet by 5.0% during the fourth quarter. Strategic Blueprint LLC now owns 9,299 shares of the information services provider’s stock valued at $825,000 after buying an additional 441 shares during the period. FirstPurpose Wealth LLC increased its stake in shares of Alphabet by 2.9% during the 4th quarter. FirstPurpose Wealth LLC now owns 8,575 shares of the information services provider’s stock worth $761,000 after purchasing an additional 239 shares during the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of Alphabet by 4.5% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 99,277 shares of the information services provider’s stock worth $8,809,000 after purchasing an additional 4,268 shares during the period. AMF Tjanstepension AB lifted its stake in Alphabet by 22.1% in the fourth quarter. AMF Tjanstepension AB now owns 3,719,300 shares of the information services provider’s stock valued at $330,013,000 after purchasing an additional 672,210 shares during the last quarter. Finally, Greenwood Capital Associates LLC grew its holdings in Alphabet by 3.7% during the fourth quarter. Greenwood Capital Associates LLC now owns 15,556 shares of the information services provider’s stock valued at $1,380,000 after purchasing an additional 556 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on GOOG shares. Oppenheimer upped their price target on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday. Cowen decreased their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Raymond James increased their price objective on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.24.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 3.8 %

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

Alphabet (NASDAQ:GOOG – Get Rating) last posted 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 firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, research analysts anticipate 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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