Luken Investment Analytics LLC Makes New $53,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 29th, 2023

Luken Investment Analytics LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 600 shares of the information services provider’s stock, valued at approximately $53,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DC Investments Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC grew its holdings in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $281,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday. Raymond James upped their price objective on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. Evercore ISI upped their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp dropped their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Finally, Roth Mkm increased their target price on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.06.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was 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 directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on 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 directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. In the last three months, insiders sold 100,539 shares of company stock valued at $10,209,164. Insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of NASDAQ:GOOGL opened at $107.34 on Friday. The firm has a 50 day simple moving average of $100.20 and a 200-day simple moving average of $96.63. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.85. The company has a current ratio of 2.35, a quick ratio of 2.34 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.37 trillion, a PE ratio of 23.91, a P/E/G ratio of 1.43 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period last year, the business earned $1.23 EPS. On average, equities analysts predict that Alphabet Inc. will post 5.13 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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