Austin Private Wealth LLC Sells 139 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Jun 21st, 2023

Austin Private Wealth LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,714 shares of the information services provider’s stock after selling 139 shares during the period. Austin Private Wealth LLC’s holdings in Alphabet were worth $1,526,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. VitalStone Financial LLC bought a new position in Alphabet during the 4th quarter valued at about $25,000. Live Oak Investment Partners acquired a new stake in Alphabet in the 4th quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Alphabet in the 4th quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet in the 4th quarter valued at about $34,000. Finally, TFO TDC LLC increased its position in Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 362 shares in the last quarter. 35.38% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $123.10 on Wednesday. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.57 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $129.04. The company’s fifty day simple moving average is $115.78 and its 200 day simple moving average is $102.68. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the company earned $1.23 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were 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 owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 817,525 shares of company stock worth $29,433,168. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Truist Financial raised their price objective on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Evercore ISI raised their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Wolfe Research lifted their price target on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. 1-800-FLOWERS.COM reiterated a “downgrade” rating on shares of Alphabet in a research report on Monday, May 15th. Finally, Loop Capital cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Monday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Alphabet Profile

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Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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