NatWest Group plc Sells 4,694 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 15th, 2023

NatWest Group plc lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,967 shares of the information services provider’s stock after selling 4,694 shares during the period. Alphabet comprises 1.8% of NatWest Group plc’s holdings, making the stock its 24th largest holding. NatWest Group plc’s holdings in Alphabet were worth $3,173,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GOOGL. Willow Creek Wealth Management Inc. raised its stake in Alphabet by 1,926.9% during 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 last quarter. Louisiana State Employees Retirement System bought a new position in Alphabet during the third quarter worth $55,305,000. Griffin Asset Management Inc. raised its stake in Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after buying an additional 49,628 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its holdings 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. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the sale, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, 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 valued at $11,373,417 in the last quarter. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. Morgan Stanley raised their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Evercore ISI reduced their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. KeyCorp reduced their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Piper Sandler reduced their price objective on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $131.17.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $108.87 on Friday. The company has a 50 day moving average of $98.64 and a 200 day moving average of $96.19. The stock has a market cap of $1.39 trillion, a P/E ratio of 23.93, a P/E/G ratio of 1.46 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $131.40. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the prior year, the firm earned $1.53 EPS. As a group, 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.