Freedom Day Solutions LLC Has $1.75 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 12th, 2023

Freedom Day Solutions LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,801 shares of the information services provider’s stock after selling 1,257 shares during the quarter. Freedom Day Solutions LLC’s holdings in Alphabet were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOGL. Bornite Capital Management LP acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank boosted its stake in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now directly 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 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. 11.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Rosenblatt Securities decreased their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Oppenheimer boosted their price target on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Loop Capital boosted their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Stifel Nicolaus assumed coverage on Alphabet in a research report on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Alphabet Stock Up 4.3 %

NASDAQ:GOOGL opened at $116.57 on Friday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year 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. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.35 and a beta of 1.10. The stock has a 50-day moving average price of $103.23 and a two-hundred day moving average price of $97.19.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, equities 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.