MBL Wealth LLC Buys 560 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jun 24th, 2023

MBL Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,955 shares of the information services provider’s stock after purchasing an additional 560 shares during the quarter. MBL Wealth LLC’s holdings in Alphabet were worth $1,035,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. increased its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its holdings in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F boosted its position in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its holdings in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Over the last three months, insiders have sold 877,364 shares of company stock valued at $30,371,135. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $123.02 on Friday. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.09. The company has a 50-day moving average price of $117.33 and a 200-day moving average price of $103.70. 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 Inc. has a 12 month low of $83.45 and a 12 month high of $129.55.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $68.80 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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