Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by J. W. Coons Advisors LLC

Posted by on May 10th, 2023

J. W. Coons Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,695 shares of the information services provider’s stock after acquiring an additional 1,550 shares during the quarter. Alphabet comprises about 0.9% of J. W. Coons Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. J. W. Coons Advisors LLC’s holdings in Alphabet were worth $3,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Integris Wealth Management LLC bought a new stake in Alphabet in the fourth quarter worth about $248,000. Phraction Management LLC raised its position in Alphabet by 29.2% in the fourth quarter. Phraction Management LLC now owns 75,820 shares of the information services provider’s stock worth $6,690,000 after acquiring an additional 17,120 shares in the last quarter. Rational Advisors LLC raised its position in Alphabet by 1.3% in the fourth quarter. Rational Advisors LLC now owns 31,836 shares of the information services provider’s stock worth $2,809,000 after acquiring an additional 401 shares in the last quarter. Edgemoor Investment Advisors Inc. raised its position in Alphabet by 1.1% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 157,561 shares of the information services provider’s stock worth $13,902,000 after acquiring an additional 1,781 shares in the last quarter. Finally, Paul Damon & Associates Inc. purchased a new position in Alphabet in the 4th quarter worth about $308,000. 34.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GOOGL shares. Sanford C. Bernstein dropped their price target on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. UBS Group lifted their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. StockNews.com raised Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Finally, Truist Financial lifted their price target on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.06.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 7,286 shares of the business’s stock in a transaction on Friday, May 5th. The stock was purchased at an average price of $26.98 per share, with a total value of $196,576.28. Following the acquisition, the insider now directly owns 2,647,312 shares in the company, valued at approximately $71,424,477.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Monday, February 27th. The stock was 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 in the company, valued at approximately $1,017,565. The disclosure for this sale can be found here. Over the last three months, insiders acquired 732,217 shares of company stock worth $21,135,371 and sold 138,039 shares worth $14,153,031. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.4 %

GOOGL opened at $107.35 on Wednesday. The business has a 50 day moving average price of $102.31 and a 200 day moving average price of $96.95. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The firm has a market cap of $1.36 trillion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share 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 firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the previous year, the company earned $1.23 EPS. Research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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