Diversified Trust Co Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jun 20th, 2023

Diversified Trust Co boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,944 shares of the information services provider’s stock after purchasing an additional 6,473 shares during the quarter. Diversified Trust Co’s holdings in Alphabet were worth $9,874,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOOG. Vanguard Group Inc. grew its stake in Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares in the last quarter. BlackRock Inc. grew its position in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares in the last quarter. State Street Corp lifted its stake in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. 27.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. UBS Group upped their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Oppenheimer dropped their target price on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $132.80.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the sale, the director now directly owns 107,240 shares in the company, valued at $11,264,489.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 833,427 shares of company stock worth $29,709,706. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.4 %

GOOG stock opened at $124.06 on Tuesday. 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 business’s 50 day simple moving average is $116.07 and its 200 day simple moving average is $103.11. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. The firm has a market capitalization of $1.58 trillion, a PE ratio of 27.63, a PEG ratio of 1.58 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its 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. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 5.41 EPS 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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