B & T Capital Management DBA Alpha Capital Management Has $6.53 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 4th, 2023

B & T Capital Management DBA Alpha Capital Management lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,013 shares of the information services provider’s stock after selling 741 shares during the period. Alphabet accounts for 1.6% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 13th biggest holding. B & T Capital Management DBA Alpha Capital Management’s holdings in Alphabet were worth $6,530,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,919.4% during 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 acquiring an additional 453,413,389 shares during the period. State Street Corp increased its holdings 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 buying an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 55,153,448 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $105.41 on Thursday. 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 capitalization of $1.35 trillion, a P/E ratio of 23.48, a PEG 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. The business has a 50 day simple moving average of $101.00 and a 200-day simple moving average of $96.80.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 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 last year, the company earned $1.23 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 100,539 shares of company stock valued at $10,214,031 over the last quarter. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Citigroup increased their price target on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Wolfe Research upped their price objective on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Tigress Financial cut their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Alphabet Company 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.