Clarus Group Inc. Purchases 850 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 16th, 2023

Clarus Group Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,720 shares of the information services provider’s stock after acquiring an additional 850 shares during the period. Clarus Group Inc.’s holdings in Alphabet were worth $328,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased 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 buying an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 buying an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased 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 buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 buying an additional 55,153,448 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, 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 available through this link. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders have sold 112,192 shares of company stock valued at $11,373,417. 11.44% of the stock is currently owned by company insiders.

Alphabet Trading 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. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $131.40. The company has a market cap 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. The business’s fifty day moving average is $98.64 and its 200 day moving average is $96.18.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. During the same period last year, the business earned $1.53 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Loop Capital boosted their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Credit Suisse Group lowered their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. KeyCorp lowered their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. UBS Group boosted their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Finally, Wells Fargo & Company upped their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Four investment 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.

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.