Gunderson Capital Management Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Jun 24th, 2023

Gunderson Capital Management Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 41,004 shares of the information services provider’s stock, valued at approximately $4,253,000. Alphabet accounts for approximately 3.2% of Gunderson Capital Management Inc.’s holdings, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased its stake in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after buying an additional 1,923,667 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. UBS Group upped their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Wolfe Research boosted their target price on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Finally, Robert W. Baird lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Alphabet Stock Down 0.7 %

Alphabet stock opened at $122.34 on Friday. The stock’s 50 day moving average price is $116.68 and its 200 day moving average price is $103.10. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $129.04. The company has a market cap of $1.55 trillion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. 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:GOOGL – Get Rating) last released its quarterly earnings data 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. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the acquisition, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the acquisition, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction 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 transaction, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,930 shares of company stock valued at $29,996,488. Corporate insiders own 0.88% of the company’s stock.

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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