Nuance Investments LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 12th, 2023

Nuance Investments LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 38.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,333 shares of the information services provider’s stock after buying an additional 10,388 shares during the quarter. Nuance Investments LLC’s holdings in Alphabet were worth $3,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. VitalStone Financial LLC purchased a new position in Alphabet in the 4th quarter valued at about $25,000. IAG Wealth Partners LLC lifted its stake in Alphabet by 3,275.0% in the 3rd 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 lifted its stake in Alphabet by 1,900.0% in the 3rd 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 lifted its stake in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its stake in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was purchased 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 in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was purchased 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 in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last three months, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 238,811 shares valued at $15,576,939. Corporate insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Truist Financial raised their target price 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. Stifel Nicolaus began coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 target price on the stock. Morgan Stanley raised their target price on shares of Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Finally, Piper Sandler raised their target price on shares of Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Three analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Price Performance

Alphabet stock opened at $116.57 on Friday. The stock has a market cap of $1.48 trillion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. The company has a fifty day simple moving average of $103.23 and a 200-day simple moving average of $97.19. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $122.43. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during 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 EPS. Equities analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

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.