Mystic Asset Management Inc. Purchases 162 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 2nd, 2023

Mystic Asset Management Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,237 shares of the information services provider’s stock after buying an additional 162 shares during the period. Alphabet makes up about 1.2% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Mystic Asset Management Inc.’s holdings in Alphabet were worth $2,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Spreng Capital Management Inc. increased its stake in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. increased its stake in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its stake in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC increased its stake in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its stake in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $107.20 on Tuesday. The company has a 50 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 quick ratio of 2.34 and a current ratio of 2.35. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.85. The company has a market capitalization of $1.37 trillion, a PE ratio of 23.88, a P/E/G ratio of 1.39 and a beta of 1.10.

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, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during 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 quarter in the previous year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief accounting officer now directly owns 25,282 shares in the company, valued at $2,524,913.34. 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.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Loop Capital increased their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. KeyCorp cut their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Bank of America increased their price target on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Evercore ISI raised their price objective on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Three investment 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.06.

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.