Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Ramsay Stattman Vela & Price Inc.

Posted by Defense World Staff on May 3rd, 2023

Ramsay Stattman Vela & Price Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,145 shares of the information services provider’s stock after buying an additional 5,775 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $3,718,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew its stake in shares of 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 worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 worth $5,553,529,000 after purchasing an additional 55,153,448 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of Alphabet stock opened at $105.32 on Wednesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34. The company’s fifty day moving average price is $100.73 and its two-hundred day moving average price is $96.74. The firm has a market capitalization of $1.35 trillion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

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, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the company earned $1.23 EPS. On average, analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the business’s 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 sale, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 380 shares of the company’s 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 owns 11,300 shares in the company, valued at approximately $1,017,565. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,539 shares of company stock worth $10,214,031. Corporate insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Citigroup lifted their target price on shares of Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research report on Friday, March 17th. Finally, Evercore ISI lifted their target price on shares of Alphabet from $125.00 to $130.00 and gave the stock 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 stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $130.06.

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.