Alphabet Inc. (NASDAQ:GOOGL) is Waverton Investment Management Ltd’s 8th Largest Position

Posted by Defense World Staff on Apr 27th, 2023

Waverton Investment Management Ltd boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,277,915 shares of the information services provider’s stock after acquiring an additional 213,588 shares during the quarter. Alphabet accounts for 4.1% of Waverton Investment Management Ltd’s portfolio, making the stock its 8th biggest holding. Waverton Investment Management Ltd’s holdings in Alphabet were worth $112,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOGL. Bornite Capital Management LP purchased a new stake in Alphabet during the first quarter valued at $16,688,000. Markel Corp increased its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank increased its position in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management lifted its position in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday. MKM Partners lifted their target price on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Loop Capital increased their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Piper Sandler boosted their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Rosenblatt Securities boosted their target price on shares of Alphabet from $128.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $132.03.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOGL 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 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. The stock has a 50 day moving average price of $99.70 and a 200 day moving average price of $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.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating 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 analyst estimates of $57.19 billion. During the same period in the previous year, the company posted $1.23 EPS. Sell-side analysts expect that Alphabet Inc. will post 5.08 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated 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 acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, 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 in the last three months. 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.