McLean Asset Management Corp Has $601,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jun 23rd, 2023

McLean Asset Management Corp reduced its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,781 shares of the information services provider’s stock after selling 488 shares during the quarter. McLean Asset Management Corp’s holdings in Alphabet were worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. increased its holdings in Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares in the last quarter. State Street Corp increased its holdings in 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 purchasing an additional 186,809,281 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 61,587.1% in 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 in the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total value of $563,319.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 877,364 shares of company stock worth $30,371,135. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James upped their target price on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group upped their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Oppenheimer lowered their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.80.

Alphabet Trading Up 2.2 %

Shares of Alphabet stock opened at $123.87 on Friday. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55. The firm has a market cap of $1.57 trillion, a PE ratio of 27.59, a P/E/G ratio of 1.58 and a beta of 1.09. The stock has a fifty day moving average price of $117.06 and a 200-day moving average price of $103.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The company 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 firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. Equities research analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Alphabet Company 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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