Resources Investment Advisors LLC. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 27th, 2023

Resources Investment Advisors LLC. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,105 shares of the information services provider’s stock after selling 10,692 shares during the quarter. Resources Investment Advisors LLC.’s holdings in Alphabet were worth $18,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. VitalStone Financial LLC bought a new stake in Alphabet in the 4th quarter worth approximately $25,000. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 3,275.0% in the 3rd 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 last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC grew its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, Coston McIsaac & Partners raised its position in Alphabet by 1,900.0% in 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 period. 34.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Jefferies Financial Group restated a “buy” rating and set a $130.00 price target on shares of Alphabet in a research report on Friday, February 10th. Barclays increased their price objective on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Wolfe Research lifted their target price on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Credit Suisse Group cut their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.03.

Insider Buying and Selling at Alphabet

In related 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 sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 100,539 shares of company stock worth $10,209,164 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.1 %

GOOGL stock opened at $103.71 on Thursday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.85. 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 debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.47 and a beta of 1.10.

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

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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