apricus wealth LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 16th, 2023

apricus wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,130 shares of the information services provider’s stock after selling 275 shares during the quarter. apricus wealth LLC’s holdings in Alphabet were worth $721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DC Investments Management LLC purchased a new position in Alphabet in the 1st quarter worth about $115,000. Guardian Wealth Management Inc. purchased a new position in Alphabet in the 1st quarter worth about $184,000. Turim 21 Investimentos Ltda. increased its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. qPULA Trading Management LP purchased a new position in Alphabet during the 1st quarter valued at about $279,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Alphabet by 29.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Up 1.2 %

GOOG stock opened at $109.46 on Friday. The firm has a 50 day moving average of $99.08 and a 200 day moving average of $96.70. The stock has a market capitalization of $1.40 trillion, a PE ratio of 24.05, a price-to-earnings-growth 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 Inc. has a 52 week low of $83.45 and a 52 week high of $131.92.

Alphabet (NASDAQ:GOOG – Get Rating) last released its 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). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $1.53 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOG. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a research report on Monday, February 6th. Bank of America raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. UBS Group raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a research report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,192 shares of company stock worth $11,373,417. Company insiders own 12.99% of the company’s stock.

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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