Walter & Keenan Wealth Management LLC IN ADV Acquires 890 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 14th, 2023

Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,817 shares of the information services provider’s stock after buying an additional 890 shares during the quarter. Alphabet comprises 3.0% of Walter & Keenan Wealth Management LLC IN ADV’s investment portfolio, making the stock its 7th largest holding. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Alphabet were worth $7,526,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares during the period. BlackRock Inc. raised its holdings in Alphabet by 1,857.3% in 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 acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,770.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after acquiring an additional 192,607,045 shares during the period. State Street Corp grew its holdings 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 worth $18,931,733,000 after purchasing an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Alphabet by 1,862.3% during the third 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. 28.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOG shares. Credit Suisse Group set a $136.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Piper Sandler decreased their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a research report on Monday, February 6th. Oppenheimer lifted their price objective on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 target price on Alphabet in a report 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Activity 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 shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares in the company, 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, CAO Amie Thuener O’toole sold 637 shares of the business’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 directly owns 25,282 shares in the company, valued at approximately $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 340 shares of the stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock worth $11,373,417 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.8 %

GOOG stock opened at $108.19 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. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $131.92. The company has a market cap of $1.39 trillion, a P/E ratio of 23.77, a PEG ratio of 1.48 and a beta of 1.10. The business has a fifty day moving average of $99.01 and a 200-day moving average of $96.55.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, equities research analysts expect 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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