William Allan Corp Buys 1,102 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 23rd, 2023

William Allan Corp raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,853 shares of the information services provider’s stock after purchasing an additional 1,102 shares during the period. Alphabet makes up approximately 2.9% of William Allan Corp’s investment portfolio, making the stock its 14th biggest position. William Allan Corp’s holdings in Alphabet were worth $3,445,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. DC Investments Management LLC bought a new position in shares of Alphabet during the 1st quarter worth about $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $206,000. Eudaimonia Advisors LLC raised its holdings in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $281,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. Credit Suisse Group decreased their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Stifel Nicolaus began coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Piper Sandler decreased their price objective on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 31st. New Street Research began coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.30.

Alphabet Stock Performance

GOOGL opened at $105.41 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The firm has a fifty day moving average price of $99.15 and a 200 day moving average price of $96.44. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $125.40. The stock has a market cap of $1.35 trillion, a P/E ratio of 23.16, a P/E/G ratio of 1.46 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 in the last three months. Company insiders own 11.44% 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.