Glass Jacobson Investment Advisors llc Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 5th, 2023

Glass Jacobson Investment Advisors llc bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,423 shares of the information services provider’s stock, valued at approximately $214,000.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Bornite Capital Management LP purchased a new stake in Alphabet in the 1st quarter valued at $16,688,000. Markel Corp grew its stake in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank increased its holdings in 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 period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of 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 purchasing an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $104.69 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.34 and a current ratio of 2.35. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43. The company has a 50 day moving average price of $101.28 and a 200 day moving average price of $96.86.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the company earned $1.23 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.

Insider Activity at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred 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 transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann Mather sold 380 shares of the company’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 directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following 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. In the last three months, insiders sold 100,539 shares of company stock worth $10,214,031. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research note on Friday, March 17th. Sanford C. Bernstein decreased their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. Raymond James lifted their price objective on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Royal Bank of Canada upped their price objective on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. 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, the stock has a consensus rating of “Moderate Buy” and a consensus 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.