Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Davidson Investment Advisors

Posted by Defense World Staff on Apr 27th, 2023

Davidson Investment Advisors cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,760 shares of the information services provider’s stock after selling 220 shares during the quarter. Davidson Investment Advisors’ holdings in Alphabet were worth $508,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. Waverton Investment Management Ltd grew its holdings in shares of Alphabet by 20.1% in the fourth quarter. Waverton Investment Management Ltd now owns 1,277,915 shares of the information services provider’s stock valued at $112,750,000 after purchasing an additional 213,588 shares during the period. Wall Street Access Asset Management LLC boosted its holdings in Alphabet by 1.1% in the 4th quarter. Wall Street Access Asset Management LLC now owns 21,690 shares of the information services provider’s stock valued at $1,914,000 after purchasing an additional 230 shares during the last quarter. Tobam grew its stake in shares of Alphabet by 19.9% in the 4th quarter. Tobam now owns 9,403 shares of the information services provider’s stock valued at $830,000 after buying an additional 1,560 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in shares of Alphabet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 156,290 shares of the information services provider’s stock worth $13,789,000 after buying an additional 815 shares during the last quarter. Finally, Argent Advisors Inc. raised its position in shares of Alphabet by 6.7% during the 4th quarter. Argent Advisors Inc. now owns 11,389 shares of the information services provider’s stock valued at $1,005,000 after buying an additional 719 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Tigress Financial lowered their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Bank of America raised their price objective on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer upped their target price on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. New Street Research initiated coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Finally, Credit Suisse Group decreased their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $132.03.

Alphabet Trading Down 0.1 %

NASDAQ GOOGL opened at $103.71 on Thursday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.85. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. 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’s fifty day moving average price is $99.70 and its 200 day moving average price is $96.49.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 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 for the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 value 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 approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, 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 valued at $10,209,164 over the last quarter. Company insiders own 11.44% of the company’s stock.

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.