FNY Investment Advisers LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jun 25th, 2023

FNY Investment Advisers LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,003.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,365 shares of the information services provider’s stock after buying an additional 3,205 shares during the quarter. FNY Investment Advisers LLC’s holdings in Alphabet were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after buying an additional 400,930,216 shares during the period. BlackRock Inc. grew its position in Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares during the last quarter. State Street Corp grew its position in Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Alphabet by 61,587.1% during 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. 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 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. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. 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 released its 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. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter last year, the business earned $1.23 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird increased their price objective on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Oppenheimer lowered their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Raymond James upped their target price on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Finally, 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. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus 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.