Paradigm Financial Partners LLC Has $5.77 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 15th, 2023

Paradigm Financial Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,091 shares of the information services provider’s stock after buying an additional 7,076 shares during the quarter. Alphabet comprises 1.7% of Paradigm Financial Partners LLC’s investment portfolio, making the stock its 9th largest holding. Paradigm Financial Partners LLC’s holdings in Alphabet were worth $5,772,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp boosted its position in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after purchasing an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after purchasing an additional 55,153,448 shares during the period. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Up 1.3 %

Shares of NASDAQ:GOOGL opened at $108.87 on Friday. The business’s 50 day simple moving average is $98.64 and its two-hundred day simple moving average is $96.19. The firm has a market cap of $1.39 trillion, a P/E ratio of 23.93, a PEG ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $131.40.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Piper Sandler reduced their price objective on Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 31st. KeyCorp reduced their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Loop Capital increased their price objective on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 340 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 340 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 over the last ninety days. 11.44% of the stock is currently owned by insiders.

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.