Full Sail Capital LLC Purchases 2,009 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 5th, 2023

Full Sail Capital LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,486 shares of the information services provider’s stock after acquiring an additional 2,009 shares during the quarter. Full Sail Capital LLC’s holdings in Alphabet were worth $1,984,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. Vanguard Group Inc. raised its stake in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp raised its stake in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Alphabet by 1,896.9% during the third 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 acquiring an additional 55,153,448 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price 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 in the company, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price 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 in the company, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,539 shares of company stock valued at $10,214,031. 11.44% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Loop Capital lifted their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Roth Mkm lifted their price target on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Truist Financial lifted their price target on shares of Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Citigroup lifted their price target on shares of Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Finally, Tigress Financial decreased their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Stock Performance

Shares of Alphabet stock opened at $104.69 on Friday. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.39 and a beta of 1.10. The firm’s 50-day moving average is $101.28 and its 200 day moving average is $96.86. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $122.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for 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 quarter in the previous year, the business posted $1.23 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal 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.