D.B. Root & Company LLC Purchases 524 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 11th, 2023

D.B. Root & Company LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,827 shares of the information services provider’s stock after purchasing an additional 524 shares during the quarter. D.B. Root & Company LLC’s holdings in Alphabet were worth $340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. DC Investments Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $115,000. Guardian Wealth Management Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. grew its position in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP purchased a new stake in Alphabet during the first quarter valued at approximately $279,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after acquiring an additional 26 shares in the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.8 %

GOOG stock opened at $106.95 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $98.81 and a two-hundred day moving average of $96.44. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $132.94. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.51 and a beta of 1.10.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company 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%. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. As a group, analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOG shares. Raymond James increased their price objective 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 boosted their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Cowen decreased their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research report on Friday, February 3rd. Finally, UBS Group lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was 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 owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction 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 completion of the sale, 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 112,192 shares of company stock valued at $11,373,417 in the last three months. 12.99% of the stock is currently owned by insiders.

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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