One Charles Private Wealth Services LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 5th, 2023

One Charles Private Wealth Services LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the information services provider’s stock after acquiring an additional 450 shares during the quarter. One Charles Private Wealth Services LLC’s holdings in Alphabet were worth $609,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at approximately $114,000. Bridgefront Capital LLC acquired a new position in shares of Alphabet in the first quarter worth $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $206,000. Eudaimonia Advisors LLC boosted its stake in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth about $281,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $104.69 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $122.43. The stock has a market cap of $1.34 trillion, a P/E ratio of 23.32, a PEG ratio of 1.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34. The firm has a 50-day moving average of $101.28 and a two-hundred day moving average of $96.86.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results 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. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on GOOGL shares. Evercore ISI raised their price target on shares of Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, Barclays upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.06.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now 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 quarter, insiders sold 100,539 shares of company stock valued at $10,214,031. 11.44% of the stock is currently owned by corporate insiders.

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.