Mitchell Mcleod Pugh & Williams Inc. Sells 527 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 2nd, 2023

Mitchell Mcleod Pugh & Williams Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,776 shares of the information services provider’s stock after selling 527 shares during the period. Alphabet comprises about 1.0% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 18th biggest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Willow Creek Wealth Management Inc. boosted its position in shares of 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 valued at $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Bfsg LLC boosted its position in shares of Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its stake in Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after buying an additional 65,329 shares during the period. Institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Wolfe Research upped their price target on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. StockNews.com raised Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Barclays increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now directly owns 25,282 shares in the company, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now directly owns 25,282 shares in the company, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. Insiders have sold a total of 100,539 shares of company stock valued at $10,209,164 over the last ninety days. 11.44% of the stock is owned by company insiders.

Alphabet Stock Down 0.1 %

GOOGL opened at $107.20 on Tuesday. The firm has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $96.68. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The company has a market capitalization of $1.37 trillion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The company has a quick ratio of 2.34, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

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, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period last year, the company posted $1.23 earnings per share. Analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

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.