203,439 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Petredis Investment Advisors LLC

Posted by Defense World Staff on May 3rd, 2023

Petredis Investment Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 203,439 shares of the information services provider’s stock, valued at approximately $17,949,000. Alphabet comprises approximately 3.2% of Petredis Investment Advisors LLC’s holdings, making the stock its 8th biggest position.

A number of other institutional investors also recently bought and sold shares of GOOGL. DC Investments Management LLC bought a new stake in shares of Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC bought a new stake in shares of Alphabet during the first quarter worth $225,000. Worth Asset Management LLC bought a new stake in shares of Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC lifted its position in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth $281,000. 34.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the sale, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 100,539 shares of company stock worth $10,214,031. Corporate insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOGL shares. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Wolfe Research raised their price target on Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Wells Fargo & Company raised their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, New Street Research assumed coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Trading Down 1.8 %

Alphabet stock opened at $105.32 on Wednesday. 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 Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The company has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The stock has a 50-day moving average price of $100.73 and a 200 day moving average price of $96.74.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current 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.