Profund Advisors LLC Has $27.04 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 27th, 2023

Profund Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,430 shares of the information services provider’s stock after purchasing an additional 32,580 shares during the quarter. Alphabet accounts for about 1.8% of Profund Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Profund Advisors LLC’s holdings in Alphabet were worth $27,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. VitalStone Financial LLC bought a new position in shares of Alphabet during the 4th quarter valued at $25,000. IAG Wealth Partners LLC grew its holdings in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its position in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC lifted its holdings in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Finally, Coston McIsaac & Partners grew its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares during the period. 34.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Wolfe Research increased their price objective on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley lifted their price target on shares of Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI upped their price objective on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Credit Suisse Group cut their price target on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.03.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet 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 of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares in the company, valued at $2,524,913.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,539 shares of company stock worth $10,209,164. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $103.71 on Thursday. The company’s 50-day moving average price is $99.70 and its 200-day moving average price is $96.49. 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 company has a market cap of $1.33 trillion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.08 EPS for the current fiscal year.

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.