GAM Holding AG Sells 314,626 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 28th, 2023

GAM Holding AG trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 65.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,977 shares of the information services provider’s stock after selling 314,626 shares during the period. Alphabet comprises about 1.2% of GAM Holding AG’s investment portfolio, making the stock its 20th largest holding. GAM Holding AG’s holdings in Alphabet were worth $14,379,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. VitalStone Financial LLC bought a new position in Alphabet in the fourth quarter valued at approximately $25,000. IAG Wealth Partners LLC raised its holdings in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its position 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 buying an additional 266 shares during the period. Laurel Wealth Planning LLC lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares in the last quarter. Finally, Coston McIsaac & Partners boosted its position in shares of Alphabet by 1,900.0% in the third 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.

Analyst Ratings Changes

Several analysts have weighed in on GOOGL shares. UBS Group lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. New Street Research initiated coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Evercore ISI upped their price objective on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Finally, Barclays raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Insider Buying and Selling

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the sale, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock valued at $10,209,164. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $107.59 on Friday. The company’s 50-day simple moving average is $99.94 and its two-hundred day simple moving average is $96.57. 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 stock has a market capitalization of $1.38 trillion, a P/E ratio of 23.64, a P/E/G ratio of 1.44 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data 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 net margin of 20.58% and a return on equity of 22.97%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. As a group, analysts predict 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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