Bartlett & Co. LLC Sells 4,608 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 21st, 2023

Bartlett & Co. LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,122 shares of the information services provider’s stock after selling 4,608 shares during the period. Bartlett & Co. LLC’s holdings in Alphabet were worth $43,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth about $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet in the first quarter worth about $206,000. Eudaimonia Advisors LLC boosted its stake in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet during the 1st quarter worth approximately $281,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GOOGL shares. Wells Fargo & Company began coverage on Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price objective for the company. Oppenheimer lifted their price target on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Finally, Loop Capital cut Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, May 15th. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of Alphabet stock in a transaction on Friday, June 16th. The stock was sold at an average price of $15.02, for a total transaction of $98,110.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $15.02, for a total value of $98,110.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 817,525 shares of company stock valued at $29,433,168. Company insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $123.10 on Wednesday. The firm has a market capitalization of $1.56 trillion, a PE ratio of 27.42, a P/E/G ratio of 1.57 and a beta of 1.09. 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 50-day moving average price of $115.78 and a two-hundred day moving average price of $102.68. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.41 EPS for the current year.

Alphabet Company 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.

Bartlett & Co. LLC Sells 4,608 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wall Street Analyst Weigh In

Insider Buying and Selling

Alphabet Price Performance

Alphabet Company Profile

Further Reading

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