Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pettyjohn Wood & White Inc.

Posted by Defense World Staff on Apr 29th, 2023

Pettyjohn Wood & White Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,682 shares of the information services provider’s stock after selling 1,048 shares during the quarter. Alphabet comprises approximately 2.0% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 15th largest holding. Pettyjohn Wood & White Inc.’s holdings in Alphabet were worth $7,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Willow Creek Wealth Management Inc. boosted its stake in Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares during the period. Bfsg LLC raised its holdings in shares of Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after buying an additional 4,975 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet during the third quarter worth about $55,305,000. Griffin Asset Management Inc. grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after buying an additional 49,628 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after acquiring an additional 65,329 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.2 %

Shares of GOOGL stock opened at $107.34 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $122.85. The firm’s 50-day simple moving average is $100.20 and its 200-day simple moving average is $96.63. The firm has a market cap of $1.37 trillion, a P/E ratio of 23.91, a PEG ratio of 1.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the company earned $1.23 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.13 EPS for the current year.

Insider Activity at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 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, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet 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 completion of the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. In the last three months, insiders sold 100,539 shares of company stock worth $10,209,164. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Piper Sandler increased their price target on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Stifel Nicolaus assumed coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Alphabet 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.