Tobam Acquires 1,560 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 27th, 2023

Tobam raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,403 shares of the information services provider’s stock after acquiring an additional 1,560 shares during the quarter. Tobam’s holdings in Alphabet were worth $830,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $25,000. IAG Wealth Partners LLC boosted its position in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC increased its position in Alphabet by 1,900.0% in the 3rd 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 increased 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 valued at $30,000 after acquiring an additional 304 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $103.71 on Thursday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. 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 business has a 50 day moving average price of $99.70 and a 200-day moving average price of $96.49. 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 (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period last year, the business posted $1.23 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $3,349,931.34. Following the completion of the transaction, 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. In the last three months, insiders have sold 100,539 shares of company stock worth $10,209,164. Company insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective on the stock. Truist Financial upped their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp lowered their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Bank of America upped their target price on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Sanford C. Bernstein decreased their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. Three research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.03.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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