St. James Investment Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 15th, 2023

St. James Investment Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 87.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,118 shares of the information services provider’s stock after buying an additional 523 shares during the period. St. James Investment Advisors LLC’s holdings in Alphabet were worth $99,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vancity Investment Management Ltd grew its position in shares of Alphabet by 155.5% during the fourth quarter. Vancity Investment Management Ltd now owns 37,812 shares of the information services provider’s stock worth $3,336,000 after purchasing an additional 23,012 shares in the last quarter. Diamant Asset Management Inc. lifted its position in Alphabet by 2.5% in the fourth quarter. Diamant Asset Management Inc. now owns 40,957 shares of the information services provider’s stock worth $3,614,000 after buying an additional 1,000 shares during the last quarter. Capital Analysts LLC boosted its stake in Alphabet by 174.0% during the fourth quarter. Capital Analysts LLC now owns 30,438 shares of the information services provider’s stock worth $2,686,000 after buying an additional 19,328 shares during the period. Arcadia Investment Management Corp MI increased its position in Alphabet by 2.5% during the fourth quarter. Arcadia Investment Management Corp MI now owns 94,223 shares of the information services provider’s stock valued at $8,313,000 after acquiring an additional 2,335 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in shares of Alphabet in the fourth quarter valued at $591,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.8 %

Shares of GOOGL opened at $117.51 on Monday. 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 has a market capitalization of $1.49 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.35 and a beta of 1.10. The company’s 50-day simple moving average is $103.71 and its 200-day simple moving average is $97.26. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $122.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $57.19 billion. During the same quarter last year, the company posted $1.23 EPS. Analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Sanford C. Bernstein lowered their price objective on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. Finally, Truist Financial lifted their target price on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.06.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $14.03, for a total value of $1,226,179.91. Following the completion of the transaction, the insider now directly owns 11,012,841 shares in the company, valued at approximately $154,510,159.23. The disclosure for this sale can be found here. Over the last three months, insiders purchased 732,217 shares of company stock worth $21,135,371 and sold 326,208 shares worth $16,803,119. 11.44% of the stock is currently owned by company insiders.

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.