Brooks Moore & Associates Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 2nd, 2023

Brooks Moore & Associates Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,028 shares of the information services provider’s stock after acquiring an additional 98 shares during the period. Alphabet accounts for 1.7% of Brooks Moore & Associates Inc.’s holdings, making the stock its 23rd biggest position. Brooks Moore & Associates Inc.’s holdings in Alphabet were worth $2,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. VitalStone Financial LLC purchased a new position in shares of Alphabet in the fourth quarter worth $25,000. IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the last quarter. Finally, Coston McIsaac & Partners raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Piper Sandler raised their price target on shares of Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Oppenheimer raised their target price on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Barclays raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Tigress Financial reduced their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, New Street Research assumed coverage on shares of Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price for the company. Three 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The shares were 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 directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The shares were 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 directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following 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. Over the last three months, insiders have sold 100,539 shares of company stock valued at $10,209,164. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $107.20 on Tuesday. The company’s 50-day moving average price is $100.46 and its 200-day moving average price is $96.68. 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 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. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate 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 firm posted $1.23 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 5.39 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.