10,065 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by CMC Financial Group

Posted by on May 14th, 2023

CMC Financial Group purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,065 shares of the information services provider’s stock, valued at approximately $995,000. Alphabet makes up about 1.6% of CMC Financial Group’s holdings, making the stock its 10th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. VitalStone Financial LLC purchased a new position in Alphabet during the fourth quarter valued at $25,000. IAG Wealth Partners LLC raised its position 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 during the last quarter. Laurel Wealth Planning LLC raised its position 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 during the last quarter. Coston McIsaac & Partners raised its position 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 during the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $33,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOGL shares. Credit Suisse Group reduced their target price on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Roth Mkm increased their target price on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Monday, April 3rd. Royal Bank of Canada raised their price objective on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Finally, Citigroup raised their price objective on shares of Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on 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 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 326,208 shares valued at $16,803,119. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.8 %

Shares of Alphabet stock opened at $117.51 on Friday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.43. The company has a 50 day moving average of $103.71 and a 200 day moving average of $97.24. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.49 trillion, a P/E ratio of 26.17, a P/E/G ratio of 1.35 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued 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 net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts forecast 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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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