Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Old Port Advisors

Posted by on Jun 25th, 2023

Old Port Advisors reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,221 shares of the information services provider’s stock after selling 320 shares during the quarter. Old Port Advisors’ holdings in Alphabet were worth $1,709,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC raised its holdings in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $281,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOGL shares. Jefferies Financial Group lifted their price objective on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. JMP Securities restated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Truist Financial lifted their price objective on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Wolfe Research lifted their price objective on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Wells Fargo & Company started coverage on Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.67.

Alphabet Trading Down 0.7 %

Shares of GOOGL stock opened at $122.34 on Friday. 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 Inc. has a 1 year low of $83.34 and a 1 year high of $129.04. The stock has a fifty day moving average of $116.68 and a two-hundred day moving average of $103.15. The firm has a market capitalization 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.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted 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. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price 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 $63,585,466.10. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average cost 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 $63,585,466.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was 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. In 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.

About Alphabet

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.