Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Traynor Capital Management Inc.

Posted by Defense World Staff on Apr 16th, 2023

Traynor Capital Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 415,686 shares of the information services provider’s stock after selling 35,241 shares during the quarter. Alphabet accounts for about 5.2% of Traynor Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Traynor Capital Management Inc.’s holdings in Alphabet were worth $36,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp lifted its holdings in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after purchasing an additional 55,153,448 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Credit Suisse Group cut their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. StockNews.com started coverage on Alphabet in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Tigress Financial cut their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $131.17.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The stock was 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 directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction 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 $7,922,966.80. 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. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Up 1.3 %

NASDAQ:GOOGL opened at $108.87 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. The stock’s fifty day moving average is $98.64 and its two-hundred day moving average is $96.18. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $131.40. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10.

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 firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. During the same quarter last year, the company earned $1.53 earnings per share. Research analysts anticipate 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.