2,736 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by RDA Financial Network

Posted by Defense World Staff on Jun 24th, 2023

RDA Financial Network bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,736 shares of the information services provider’s stock, valued at approximately $285,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Alphabet by 1,885.5% during 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 acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. boosted its position in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,770.6% during 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 acquiring an additional 192,607,045 shares during the last quarter. State Street Corp boosted its position in Alphabet by 1,851.7% during 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 acquiring an additional 186,809,281 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in shares of Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, 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 877,364 shares of company stock valued at $30,371,135. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $123.02 on Friday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The company has a market capitalization 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 debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm’s fifty day moving average price is $117.33 and its 200 day moving average price is $103.70.

Alphabet (NASDAQ:GOOG – Get Rating) last released its 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 net margin of 20.58% and a return on equity of 22.84%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOG shares. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Robert W. Baird lifted their price target on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer decreased their price target on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Alphabet from $120.00 to $125.00 in a 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.80.

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.