Callahan Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 2nd, 2023

Callahan Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,100 shares of the information services provider’s stock after acquiring an additional 240 shares during the period. Callahan Advisors LLC’s holdings in Alphabet were worth $1,509,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp boosted its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after purchasing an additional 55,153,448 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’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 purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 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 of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction 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 completion of 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. Insiders sold a total of 100,539 shares of company stock worth $10,209,164 in the last 90 days. Company insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOOGL shares. Roth Mkm upped their price objective on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. UBS Group upped their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. 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 report on Wednesday, April 26th. StockNews.com upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Finally, Wells Fargo & Company upped their price objective on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Stock Down 0.1 %

Shares of NASDAQ:GOOGL opened at $107.20 on Tuesday. The stock has a market cap of $1.37 trillion, a P/E ratio of 23.88, a P/E/G ratio of 1.39 and a beta of 1.10. The firm has a fifty day moving average price of $100.46 and a 200 day moving average price of $96.68. 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 1-year low of $83.34 and a 1-year high of $122.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm 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 quarter in the prior year, the business earned $1.23 EPS. Sell-side analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.

About Alphabet

(Get Rating)

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.