Omega Financial Group LLC Invests $222,000 in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Jun 21st, 2023

Omega Financial Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,140 shares of the information services provider’s stock, valued at approximately $222,000.

Several other large investors have also modified their holdings of GOOGL. Spreng Capital Management Inc. grew its position in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. grew its position in shares of Alphabet by 0.3% in the first 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 last quarter. Maple Capital Management Inc. grew its position in shares of Alphabet by 2.1% in the first 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 last quarter. Private Advisory Group LLC grew its position in shares of Alphabet by 1.8% in the first 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 last quarter. Finally, Weik Capital Management grew its position in shares of Alphabet by 0.5% in the first 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 last quarter. 35.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of Alphabet stock in a transaction on Friday, June 16th. The shares were 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 accessible through this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $15.02, for a total value of $98,110.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. In the last 90 days, insiders sold 817,525 shares of company stock valued at $29,433,168. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Piper Sandler raised their price target on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Citigroup raised their price target on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Roth Mkm lifted their target price on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Wells Fargo & Company assumed coverage on Alphabet in a research report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 target price on the stock. Finally, Credit Suisse Group decreased their target price on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.67.

Alphabet Price Performance

GOOGL opened at $123.10 on Wednesday. The company has a fifty day moving average price of $115.78 and a two-hundred day moving average price of $102.68. 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 52 week low of $83.34 and a 52 week high of $129.04. 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.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, analysts anticipate that Alphabet Inc. will post 5.41 earnings per share 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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