Koshinski Asset Management Inc. Sells 2,662 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 25th, 2023

Koshinski Asset Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,378 shares of the information services provider’s stock after selling 2,662 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Alphabet were worth $4,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VitalStone Financial LLC bought a new position in Alphabet in the fourth quarter valued at approximately $25,000. Live Oak Investment Partners bought a new position in Alphabet in the fourth quarter valued at approximately $26,000. McElhenny Sheffield Capital Management LLC bought a new position in Alphabet in the fourth quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in Alphabet in the third quarter valued at approximately $38,000. Institutional investors own 35.38% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of Alphabet stock opened at $122.34 on Friday. The firm has a 50-day moving average of $116.68 and a 200-day moving average of $103.15. The stock has a market cap of $1.55 trillion, a PE ratio of 27.25, a PEG ratio of 1.57 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations 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 business posted $1.23 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. 1-800-FLOWERS.COM reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Sanford C. Bernstein lowered their price objective on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 20th. Evercore ISI lifted their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Finally, BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a report on Friday, March 17th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the stock in a transaction on Wednesday, May 3rd. The shares were acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold 854,930 shares of company stock valued at $29,996,488 over the last quarter. 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.