Cabot Wealth Management Inc. Has $1.74 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 20th, 2023

Cabot Wealth Management Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 24.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,670 shares of the information services provider’s stock after selling 6,270 shares during the period. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $1,735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC bought a new stake in Alphabet during the 4th quarter worth about $25,000. IAG Wealth Partners LLC raised its holdings in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC raised its holdings in Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the last quarter. Laurel Wealth Planning LLC raised its holdings in Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Finally, Coston McIsaac & Partners raised its holdings in Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Activity

In related news, 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 bought at an average price 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 in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on 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 purchase, 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 90 days, insiders sold 112,192 shares of company stock valued at $11,373,417. 11.44% of the stock is owned by insiders.

Alphabet Trading Down 0.3 %

NASDAQ GOOGL opened at $104.18 on Thursday. The company has a market cap of $1.33 trillion, a PE ratio of 22.90, a PEG ratio of 1.51 and a beta of 1.10. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $131.40. The stock has a 50 day moving average of $98.73 and a 200-day moving average of $96.33.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the company posted $1.53 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. Rosenblatt Securities dropped their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a 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 note on Thursday, April 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price target on shares of Alphabet in a research note on Friday, February 10th. MKM Partners upped their price target on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Finally, Truist Financial lowered their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Four 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 company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $131.17.

About Alphabet

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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.