Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Oxbow Advisors LLC

Posted by Defense World Staff on Apr 24th, 2023

Oxbow Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 46.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,289 shares of the information services provider’s stock after selling 6,212 shares during the quarter. Oxbow Advisors LLC’s holdings in Alphabet were worth $643,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp raised its stake in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after acquiring an additional 55,153,448 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Credit Suisse Group dropped their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. New Street Research assumed coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. Rosenblatt Securities dropped their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Finally, Piper Sandler dropped their price objective on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 31st. Four equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.30.

Alphabet Price Performance

Alphabet stock opened at $105.41 on Monday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $125.40. The firm has a 50 day moving average price of $99.15 and a 200 day moving average price of $96.37. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) 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 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 previous year, the firm posted $1.53 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 100,879 shares of company stock valued at $10,242,117 over the last ninety days. Corporate 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.