Pavion Blue Capital LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 12th, 2023

Pavion Blue Capital LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,190 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Pavion Blue Capital LLC’s holdings in Alphabet were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Amussen Hunsaker Associates LLC grew its position in shares of Alphabet by 0.5% in the fourth quarter. Amussen Hunsaker Associates LLC now owns 79,942 shares of the information services provider’s stock valued at $7,055,000 after purchasing an additional 412 shares in the last quarter. Nuance Investments LLC grew its position in Alphabet by 38.6% in the fourth quarter. Nuance Investments LLC now owns 37,333 shares of the information services provider’s stock worth $3,294,000 after acquiring an additional 10,388 shares during the period. Francis Financial Inc. grew its position in Alphabet by 3.6% in the fourth quarter. Francis Financial Inc. now owns 4,583 shares of the information services provider’s stock worth $404,000 after acquiring an additional 159 shares during the period. Presilium Private Wealth LLC purchased a new position in Alphabet in the fourth quarter worth approximately $309,000. Finally, Weil Company Inc. grew its position in Alphabet by 3.5% in the fourth quarter. Weil Company Inc. now owns 30,793 shares of the information services provider’s stock worth $2,717,000 after acquiring an additional 1,048 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred 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 owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 732,217 shares of company stock valued at $21,135,371 and have sold 238,811 shares valued at $15,576,939. Corporate insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Citigroup increased their price objective on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group increased their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Robert W. Baird increased their price objective on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Truist Financial increased their price objective on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company upped their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Alphabet Stock Performance

NASDAQ GOOGL opened at $116.57 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.43. The business’s 50-day moving average price is $103.23 and its 200 day moving average price is $97.19. The firm has a market cap of $1.48 trillion, a P/E ratio of 25.96, a P/E/G ratio of 1.35 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (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 analyst estimates of $57.19 billion. During the same quarter last year, the company posted $1.23 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.

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.