Deroy & Devereaux Private Investment Counsel Inc. Purchases 1,469 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 11th, 2023

Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,649 shares of the information services provider’s stock after acquiring an additional 1,469 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Alphabet were worth $1,292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Willow Creek Wealth Management Inc. lifted its holdings in Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after buying an additional 17,631 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Alphabet in the 3rd quarter worth approximately $55,305,000. Griffin Asset Management Inc. lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of Alphabet by 3,005.0% during the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after purchasing an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its stake in Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 stock was acquired 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 over the last three months. 11.44% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. Loop Capital upped their target price on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Stifel Nicolaus started coverage on shares of Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Rosenblatt Securities dropped their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a research report on Friday, March 17th. Finally, Piper Sandler dropped their target price on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.17.

Alphabet Price Performance

Alphabet stock opened at $106.44 on Tuesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $132.09. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.50 and a beta of 1.10. The firm’s fifty day moving average is $98.35 and its 200 day moving average is $95.93. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued 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 company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter last year, the company earned $1.53 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

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.

Deroy & Devereaux Private Investment Counsel Inc. Purchases 1,469 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Insider Buying and Selling

Analysts Set New Price Targets

Alphabet Price Performance

Alphabet Profile

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