Alphabet Inc. (NASDAQ:GOOGL) is FCF Advisors LLC’s 7th Largest Position

Posted by Defense World Staff on Apr 30th, 2023

FCF Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,276 shares of the information services provider’s stock after selling 591 shares during the period. Alphabet accounts for about 1.5% of FCF Advisors LLC’s investment portfolio, making the stock its 7th largest holding. FCF Advisors LLC’s holdings in Alphabet were worth $2,318,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Albion Financial Group UT grew its stake in shares of Alphabet by 1.1% in the fourth quarter. Albion Financial Group UT now owns 263,919 shares of the information services provider’s stock worth $23,286,000 after acquiring an additional 2,999 shares during the period. Ignite Planners LLC lifted its holdings in shares of Alphabet by 23.8% in the fourth quarter. Ignite Planners LLC now owns 13,426 shares of the information services provider’s stock worth $1,334,000 after buying an additional 2,577 shares in the last quarter. Centurion Wealth Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $484,000. AJ Advisors LLC bought a new stake in Alphabet in the fourth quarter worth $327,000. Finally, Ledge Wealth Management Inc. increased its position in Alphabet by 38.4% during the fourth quarter. Ledge Wealth Management Inc. now owns 8,515 shares of the information services provider’s stock valued at $751,000 after acquiring an additional 2,362 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Rosenblatt Securities cut their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Raymond James upped their price objective on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America upped their price objective on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday. Credit Suisse Group decreased their price target on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Three research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.06.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’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 completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock worth $10,209,164. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $107.34 on Friday. The business’s 50-day moving average price is $100.20 and its two-hundred day moving average price is $96.63. 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 Inc. has a one year low of $83.34 and a one year high of $122.85. The company has a market capitalization of $1.37 trillion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.34 earnings per share 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.