Country Club Bank GFN Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jun 25th, 2023

Country Club Bank GFN lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,333 shares of the information services provider’s stock after buying an additional 3,162 shares during the quarter. Alphabet makes up about 1.2% of Country Club Bank GFN’s holdings, making the stock its 15th biggest holding. Country Club Bank GFN’s holdings in Alphabet were worth $15,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. DC Investments Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. grew its position in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. qPULA Trading Management LP purchased a new stake in Alphabet during the 1st quarter valued at about $279,000. Finally, Wayfinding Financial LLC purchased a new stake in Alphabet during the 4th quarter valued at about $294,000. 27.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of 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. Insiders sold a total of 877,364 shares of company stock valued at $30,371,135 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOG 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 stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.58 and a beta of 1.09. The company’s 50 day moving average is $117.33 and its two-hundred day moving average is $103.75. 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 (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data 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. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. During the same period last year, the firm posted $1.23 EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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:GOOG)

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