Signaturefd LLC Has $14.94 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 18th, 2023

Signaturefd LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 169,306 shares of the information services provider’s stock after purchasing an additional 9,357 shares during the quarter. Alphabet makes up 0.4% of Signaturefd LLC’s investment portfolio, making the stock its 27th largest holding. Signaturefd LLC’s holdings in Alphabet were worth $14,938,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC increased its position in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares during the period. Laurel Wealth Planning LLC increased its position in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the period. Coston McIsaac & Partners increased its position in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares during the period. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $33,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOGL shares. New Street Research assumed coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. 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. UBS Group upped their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Finally, Truist Financial decreased their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.17.

Alphabet Stock Down 2.7 %

NASDAQ:GOOGL opened at $105.97 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market cap of $1.36 trillion, a PE ratio of 23.29, a PEG ratio of 1.51 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $131.40. The stock has a 50-day simple moving average of $98.64 and a 200 day simple moving average of $96.15.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted 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). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s 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 of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 over the last ninety days. 11.44% of the stock is currently owned by corporate insiders.

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.