LPL Financial LLC Sells 50,823 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 8th, 2023

LPL Financial LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,854,083 shares of the information services provider’s stock after selling 50,823 shares during the quarter. LPL Financial LLC’s holdings in Alphabet were worth $340,046,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. DC Investments Management LLC bought a new position in Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC lifted its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $281,000. 34.06% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $105.57 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 23.51, a PEG ratio of 1.34 and a beta of 1.10. The business has a fifty day moving average of $101.61 and a 200 day moving average of $96.85.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a report on Friday, February 10th. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Morgan Stanley increased their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. MKM Partners increased their price objective on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.06.

Insider Buying and Selling

In other Alphabet news, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now 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 accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total value of $57,425.55. Following the transaction, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. Insiders sold 138,039 shares of company stock valued at $14,153,031 over the last 90 days. Company insiders own 11.44% of the company’s stock.

About Alphabet

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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.

LPL Financial LLC Sells 50,823 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Stock Performance

Analysts Set New Price Targets

Insider Buying and Selling

About Alphabet

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