West Bancorporation Inc. Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 14th, 2023

West Bancorporation Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,869 shares of the information services provider’s stock after selling 120 shares during the quarter. West Bancorporation Inc.’s holdings in Alphabet were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after buying an additional 400,930,216 shares in the last quarter. BlackRock Inc. grew its stake in shares of Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares during the period. State Street Corp grew its stake in shares of Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Alphabet by 1,862.3% during the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Up 2.8 %

Shares of GOOG opened at $108.19 on Friday. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $131.92. The business’s 50 day simple moving average is $99.01 and its 200-day simple moving average is $96.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, equities analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GOOG shares. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research note on Monday, February 6th. Jefferies Financial Group set a $125.00 price target on Alphabet in a research note on Friday, February 3rd. Oppenheimer boosted their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’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 transaction, 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 accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’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 sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

(Get Rating)

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.