Duality Advisers LP Makes New $5.40 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on May 10th, 2023

Duality Advisers LP bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,181 shares of the information services provider’s stock, valued at approximately $5,398,000. Alphabet makes up 0.6% of Duality Advisers LP’s portfolio, making the stock its largest position.

Several other institutional investors have also recently made changes to their positions in GOOGL. Bornite Capital Management LP bought a new position in shares of Alphabet in the first quarter worth $16,688,000. Markel Corp increased its holdings 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 purchasing an additional 2,250 shares during the period. United Bank increased its holdings in shares of Alphabet by 5.9% in the first 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. increased its holdings in shares of 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 worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its holdings in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated 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 directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated 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 directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares of the company’s stock, valued at $11,264,489.60. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 732,217 shares of company stock valued at $21,135,371 and have sold 138,039 shares valued at $14,153,031. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOGL shares. Morgan Stanley increased their target price on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Alphabet in a research note on Monday, April 3rd. Citigroup lifted their price objective on Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Finally, Wolfe Research lifted their price objective on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Stock Performance

Alphabet stock opened at $107.35 on Wednesday. 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 stock’s 50 day simple moving average is $102.31 and its two-hundred day simple moving average is $96.95. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.43. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.35 and a beta of 1.10.

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, topping 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 for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the previous year, the firm posted $1.23 EPS. As a group, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal 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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