Atticus Wealth Management LLC Has $1.08 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 16th, 2023

Atticus Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,864.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,220 shares of the information services provider’s stock after purchasing an additional 11,598 shares during the quarter. Atticus Wealth Management LLC’s holdings in Alphabet were worth $1,084,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOG. Vanguard Group Inc. boosted its holdings in Alphabet by 1,885.5% during 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 acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $19,639,414,000 after acquiring an additional 192,607,045 shares during the last quarter. State Street Corp boosted its holdings in 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 acquiring an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in 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 worth $6,075,223,000 after acquiring an additional 59,964,963 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler cut their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Oppenheimer boosted their price target on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Friday, February 3rd. Finally, UBS Group boosted their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.24.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the company’s 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 owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.2 %

Shares of GOOG opened at $109.46 on Friday. The business’s 50-day moving average price is $99.08 and its 200-day moving average price is $96.70. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $131.92. The stock has a market cap of $1.40 trillion, a PE ratio of 24.05, a P/E/G ratio of 1.45 and a beta of 1.10. 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 (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same period in the previous year, the firm posted $1.53 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 5.11 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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