Alphabet Inc. (NASDAQ:GOOG) Position Increased by New World Advisors LLC

Posted by on Apr 16th, 2023

New World Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,839 shares of the information services provider’s stock after purchasing an additional 1,280 shares during the period. Alphabet comprises about 0.4% of New World Advisors LLC’s portfolio, making the stock its 18th largest holding. New World Advisors LLC’s holdings in Alphabet were worth $1,050,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DC Investments Management LLC bought a new position in shares of Alphabet during the first quarter worth about $115,000. Guardian Wealth Management Inc. bought a new position in shares of Alphabet during the first quarter worth about $184,000. Turim 21 Investimentos Ltda. grew its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new position in shares of Alphabet during the first quarter worth about $279,000. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Credit Suisse Group set a $136.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a report on Monday, February 6th. UBS Group upped their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Finally, Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $109.46 on Friday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $131.92. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.45 and a beta of 1.10. The firm has a 50-day moving average of $99.08 and a two-hundred day moving average of $96.70.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. During the same period in the previous year, the company posted $1.53 earnings per share. Alphabet’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 5.11 earnings per share 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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