Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Greenwich Wealth Management LLC

Posted by on May 3rd, 2023

Greenwich Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,531 shares of the information services provider’s stock after selling 323 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Bornite Capital Management LP acquired a new stake in shares of Alphabet during the 1st quarter worth about $16,688,000. Markel Corp increased its position in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank increased its position in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its position in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,539 shares of company stock valued at $10,214,031. Company insiders own 11.44% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. KeyCorp dropped their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Rosenblatt Securities dropped their target price on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Barclays lifted their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research report on Friday, March 17th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $105.32 on Wednesday. The firm has a market cap of $1.35 trillion, a P/E ratio of 23.46, a PEG ratio of 1.39 and a beta of 1.10. 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 stock’s 50 day simple moving average is $100.73 and its 200-day simple moving average is $96.74. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $122.85.

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

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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