Destiny Wealth Partners LLC Buys 240 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 10th, 2023

Destiny Wealth Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,280 shares of the information services provider’s stock after acquiring an additional 240 shares during the period. Destiny Wealth Partners LLC’s holdings in Alphabet were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. OLD Second National Bank of Aurora raised its position in Alphabet by 1,900.0% in 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. grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Saban Cheryl lifted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after acquiring an additional 190 shares during the last quarter. Finally, Gould Capital LLC boosted its holdings in Alphabet by 2,150.0% during 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Piper Sandler cut their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Oppenheimer upped their target price on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Cowen decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research note on Thursday, February 9th. Finally, The Goldman Sachs Group set a $128.00 target price on Alphabet in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 637 shares of the company’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 value of $63,617.19. Following the sale, the chief accounting officer now owns 25,282 shares in the company, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was 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 directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,192 shares of company stock valued at $11,373,417. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 3.8 %

NASDAQ:GOOG opened at $108.90 on Monday. The company’s 50 day moving average is $98.63 and its two-hundred day moving average is $96.40. The company has a market cap of $1.39 trillion, a PE ratio of 23.93, a P/E/G ratio of 1.51 and a beta of 1.10. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $137.70. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data 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). The company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. Alphabet’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.11 EPS 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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