Trevian Wealth Management LLC Acquires 520 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 19th, 2023

Trevian Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,270 shares of the information services provider’s stock after purchasing an additional 520 shares during the quarter. Alphabet comprises 0.4% of Trevian Wealth Management LLC’s holdings, making the stock its 24th largest holding. Trevian Wealth Management LLC’s holdings in Alphabet were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. DC Investments Management LLC acquired a new stake in Alphabet in the first quarter valued at approximately $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet in the first quarter valued at approximately $225,000. Worth Asset Management LLC acquired a new stake in Alphabet in the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC grew its stake in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet in the first quarter valued at approximately $281,000. 34.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the 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 transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 29,006 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the transaction, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold 112,192 shares of company stock valued at $11,373,417 in the last 90 days. Insiders own 11.44% of the company’s stock.

Alphabet Trading Down 1.4 %

Shares of GOOGL stock opened at $104.50 on Wednesday. The stock has a market capitalization of $1.34 trillion, a PE ratio of 22.96, a P/E/G ratio of 1.51 and a beta of 1.10. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $131.40. The business has a 50-day moving average of $98.70 and a 200 day moving average of $96.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results 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). The company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations 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 company earned $1.53 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GOOGL shares. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research report on Thursday, March 16th. Piper Sandler cut their target price on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 31st. Evercore ISI cut their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.