Paul Damon & Associates Inc. Makes New $308,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 10th, 2023

Paul Damon & Associates Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,492 shares of the information services provider’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FourThought Financial Partners LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $5,415,000. Willow Creek Wealth Management Inc. lifted its holdings in shares of Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after acquiring an additional 17,631 shares during the last quarter. Bfsg LLC lifted its holdings in shares of Alphabet by 160.5% in the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after acquiring an additional 4,975 shares during the last quarter. Ibex Investors LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $2,617,000. Finally, Arjuna Capital lifted its holdings in shares of Alphabet by 2.8% in the 4th quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after acquiring an additional 3,427 shares during the last quarter. 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 acquired 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, 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 other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders purchased 732,217 shares of company stock worth $21,135,371 and sold 138,039 shares worth $14,153,031. Insiders own 11.44% of the company’s stock.

Alphabet Trading Down 0.4 %

NASDAQ:GOOGL opened at $107.35 on Wednesday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.43. The firm has a fifty day simple moving average of $102.31 and a 200-day simple moving average of $96.95. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.36 trillion, a P/E ratio of 23.91, a PEG ratio of 1.35 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GOOGL shares. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. KeyCorp decreased their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Stifel Nicolaus started coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Truist Financial raised their price objective 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. Finally, MKM Partners raised their price objective on shares of Alphabet from $120.00 to $126.00 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

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.