Alphabet Inc. (NASDAQ:GOOG) Position Increased by Baker Tilly Wealth Management LLC

Posted by on Apr 9th, 2023

Baker Tilly Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,277 shares of the information services provider’s stock after buying an additional 4,268 shares during the period. Alphabet accounts for 1.1% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 10th biggest position. Baker Tilly Wealth Management LLC’s holdings in Alphabet were worth $8,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. OLD Second National Bank of Aurora grew its position in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Westchester Capital Management Inc. raised its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the period. Carolina Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares in the last quarter. Saban Cheryl grew its stake in Alphabet by 1,900.0% in the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 190 shares during the period. Finally, Gould Capital LLC grew its stake in Alphabet by 2,150.0% in the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 301 shares during the period. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.8 %

NASDAQ GOOG opened at $108.90 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.39 trillion, a P/E ratio of 23.93, a P/E/G ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $137.70. The firm has a 50-day moving average price of $98.63 and a 200 day moving average price of $96.42.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results 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 for 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%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $1.53 earnings per share. Equities research analysts expect that Alphabet Inc. will post 5.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. Raymond James increased their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Bank of America lifted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Piper Sandler cut their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Cowen decreased their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Finally, Credit Suisse Group set a $136.00 target price on Alphabet in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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