UNIVEST FINANCIAL Corp Buys 1,988 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 22nd, 2023

UNIVEST FINANCIAL Corp boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,147 shares of the information services provider’s stock after acquiring an additional 1,988 shares during the period. Alphabet accounts for 1.6% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 19th largest holding. UNIVEST FINANCIAL Corp’s holdings in Alphabet were worth $5,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Spreng Capital Management Inc. raised its position in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the last quarter. West Family Investments Inc. grew its stake in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. grew its stake in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC grew its stake in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management grew its stake in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the period. 34.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Monday, May 15th. Evercore ISI upped their price objective on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. JMP Securities reiterated a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research note on Thursday, March 16th. Roth Mkm increased their price target on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the transaction, the director now directly owns 32,240 shares of the company’s stock, valued at $3,869,122.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction 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 directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total value of $9,000,750.00. Following the completion of the sale, the director now directly owns 32,240 shares in the company, valued at $3,869,122.40. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 601,450 shares valued at $28,354,856. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $122.76 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. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $125.97. The stock has a 50 day moving average price of $106.43 and a two-hundred day moving average price of $98.26. The company has a market capitalization of $1.56 trillion, a P/E ratio of 27.34, a PEG ratio of 1.56 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $57.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current year.

Alphabet 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.

UNIVEST FINANCIAL Corp Buys 1,988 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wall Street Analyst Weigh In

Insider Activity

Alphabet Stock Performance

Alphabet Profile

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