Colony Family Offices LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on May 4th, 2023

Colony Family Offices LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,440 shares of the information services provider’s stock after buying an additional 200 shares during the period. Colony Family Offices LLC’s holdings in Alphabet were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strengthening Families & Communities LLC increased its stake in shares of Alphabet by 1.6% in the 4th quarter. Strengthening Families & Communities LLC now owns 13,461 shares of the information services provider’s stock worth $1,188,000 after purchasing an additional 218 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Alphabet in the 4th quarter worth $5,259,000. Wittenberg Investment Management Inc. increased its stake in shares of Alphabet by 1.6% in the 4th quarter. Wittenberg Investment Management Inc. now owns 124,050 shares of the information services provider’s stock worth $10,945,000 after purchasing an additional 2,000 shares in the last quarter. Petredis Investment Advisors LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $17,949,000. Finally, Sound Shore Management Inc. CT increased its stake in shares of Alphabet by 64.7% in the 4th quarter. Sound Shore Management Inc. CT now owns 843,992 shares of the information services provider’s stock worth $74,465,000 after purchasing an additional 331,631 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOGL shares. Piper Sandler upped their price objective on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Citigroup upped their target price on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Wolfe Research upped their target price on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Monday, April 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.06.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased 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 $50,072,045.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased 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 $50,072,045.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were 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 in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,539 shares of company stock valued at $10,214,031. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $105.41 on Thursday. The firm has a market cap of $1.35 trillion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The firm’s 50 day simple moving average is $101.00 and its 200-day simple moving average is $96.80. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.85. 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 (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping 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 net margin of 20.58% and a return on equity of 22.84%. During the same period last year, the company posted $1.23 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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