Martin Investment Management LLC Has $7.79 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 23rd, 2023

Martin Investment Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,231 shares of the information services provider’s stock after selling 433 shares during the quarter. Alphabet makes up about 2.4% of Martin Investment Management LLC’s investment portfolio, making the stock its 17th largest position. Martin Investment Management LLC’s holdings in Alphabet were worth $7,785,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Bornite Capital Management LP acquired a new stake in Alphabet in the 1st quarter valued at $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank boosted its stake in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,192 shares of company stock worth $11,373,417. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $105.41 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. The stock’s 50 day moving average price is $99.15 and its two-hundred day moving average price is $96.44. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.46 and a beta of 1.10. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $125.40.

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 (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business 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 company earned $1.53 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Tigress Financial reduced their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. Wells Fargo & Company boosted their price objective on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Loop Capital boosted their price objective on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research note on Friday, March 17th. Finally, MKM Partners boosted their target price on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $131.30.

Alphabet Profile

(Get Rating)

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.