Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Modera Wealth Management LLC

Posted by Defense World Staff on May 10th, 2023

Modera Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,810 shares of the information services provider’s stock after selling 740 shares during the quarter. Modera Wealth Management LLC’s holdings in Alphabet were worth $3,424,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FourThought Financial Partners LLC acquired a new position in shares of Alphabet in the 4th quarter worth $5,415,000. Willow Creek Wealth Management Inc. boosted its position in Alphabet by 1,926.9% during the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Bfsg LLC boosted its position in Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the last quarter. Ibex Investors LLC acquired a new stake in Alphabet during the fourth quarter valued at $2,617,000. Finally, Arjuna Capital boosted its position in Alphabet by 2.8% during the fourth quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after purchasing an additional 3,427 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.4 %

NASDAQ:GOOGL opened at $107.35 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm has a 50-day moving average of $102.31 and a 200-day moving average of $96.95. The company has a market cap of $1.36 trillion, a PE ratio of 23.91, a PEG ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 7,286 shares of the stock in a transaction on Friday, May 5th. The stock was acquired at an average cost of $26.98 per share, with a total value of $196,576.28. Following the completion of the purchase, the insider now directly owns 2,647,312 shares of the company’s stock, valued at $71,424,477.76. The disclosure for this purchase can be found here. In the last quarter, 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 analysts recently issued reports on GOOGL shares. Jefferies Financial Group reissued a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Truist Financial boosted their price target on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Evercore ISI boosted their price target on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Morgan Stanley boosted their price target on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Finally, Roth Mkm boosted their price target on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

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.

Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Modera Wealth Management LLC

Alphabet Trading Down 0.4 %

Insider Transactions at Alphabet

Analyst Upgrades and Downgrades

About Alphabet

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