Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Wall Street Access Asset Management LLC

Posted by on Apr 27th, 2023

Wall Street Access Asset Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,690 shares of the information services provider’s stock after acquiring an additional 230 shares during the period. Alphabet comprises approximately 1.3% of Wall Street Access Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Wall Street Access Asset Management LLC’s holdings in Alphabet were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. grew its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. boosted its stake in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its stake in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management raised its stake in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOGL shares. Piper Sandler lifted their target price on shares of Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer increased their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus began coverage on Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Finally, Sanford C. Bernstein reduced their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Three equities 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 stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $132.03.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now 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 SEC, which is available at the SEC website. In other news, insider John Kent Walker sold 29,006 shares of the stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the sale, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,539 shares of company stock valued at $10,209,164. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.1 %

Alphabet 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 has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. 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 company’s 50 day simple moving average is $99.70 and its 200 day simple moving average is $96.49.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period last year, the firm posted $1.23 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.08 EPS for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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