D. Scott Neal Inc. Makes New $232,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 25th, 2023

D. Scott Neal Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,240 shares of the information services provider’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spreng Capital Management Inc. raised its stake in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. raised its stake in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its stake in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC raised its stake in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management raised its stake in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.7 %

NASDAQ GOOGL opened at $122.34 on Friday. The firm has a market cap of $1.55 trillion, a P/E ratio of 27.25, a P/E/G 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. The stock’s 50-day moving average is $116.68 and its 200-day moving average is $103.15. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results 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 company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the firm posted $1.23 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOGL shares. Roth Mkm upped 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. Oppenheimer upped their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Morgan Stanley increased their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. 1-800-FLOWERS.COM reiterated a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Finally, Bank of America increased their price objective on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following 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 SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction that occurred on Tuesday, June 20th. The shares were 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. Insiders have sold a total of 854,930 shares of company stock valued at $29,996,488 over the last 90 days. 0.88% of the stock is owned by company insiders.

About Alphabet

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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.