Mcdonald Capital Investors Inc. CA Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 11th, 2023

Mcdonald Capital Investors Inc. CA trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,210 shares of the information services provider’s stock after selling 3,140 shares during the quarter. Alphabet accounts for approximately 2.3% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 16th largest holding. Mcdonald Capital Investors Inc. CA’s holdings in Alphabet were worth $27,370,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. VitalStone Financial LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $25,000. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC grew its stake in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares in the last quarter. Laurel Wealth Planning LLC grew its stake in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares in the last quarter. Finally, Coston McIsaac & Partners grew its stake in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Wells Fargo & Company raised their price objective on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Rosenblatt Securities lowered their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Roth Mkm raised their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Stock Up 4.1 %

GOOGL opened at $111.75 on Thursday. Alphabet Inc. has a one year low of $83.34 and a one year 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 stock’s fifty day moving average is $102.74 and its 200-day moving average is $97.05. The company has a market capitalization of $1.42 trillion, a PE ratio of 24.89, a P/E/G 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 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 company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the business earned $1.23 EPS. On average, equities analysts predict that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value 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 $50,072,045.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 732,217 shares of company stock valued at $21,135,371 and have sold 238,811 shares valued at $15,576,939. 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.