LexAurum Advisors LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Jun 22nd, 2023

LexAurum Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,810 shares of the information services provider’s stock after selling 300 shares during the quarter. LexAurum Advisors LLC’s holdings in Alphabet were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DC Investments Management LLC bought a new stake in Alphabet during the 1st quarter valued at about $114,000. Bridgefront Capital LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC grew its stake in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $281,000. Institutional investors own 35.38% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $15.02, for a total transaction of $98,110.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 817,525 shares of company stock valued at $29,433,168. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Raymond James upped their price objective on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Citigroup boosted their price objective on shares of Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Sanford C. Bernstein dropped their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 20th. Evercore ISI upped their price objective on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Roth Mkm lifted their target price on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Alphabet Trading Down 2.1 %

Shares of Alphabet stock opened at $120.55 on Thursday. The firm has a 50-day simple moving average of $116.10 and a two-hundred day simple moving average of $102.80. 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 $129.04. The company has a market cap of $1.53 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

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