Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lifted by Elk River Wealth Management LLC

Posted by on Jun 25th, 2023

Elk River Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,572 shares of the information services provider’s stock after buying an additional 5,846 shares during the period. Alphabet comprises approximately 2.5% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Elk River Wealth Management LLC’s holdings in Alphabet were worth $10,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bornite Capital Management LP acquired a new stake in shares of Alphabet in the 1st quarter worth $16,688,000. Markel Corp increased its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank increased its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its stake in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOGL shares. Wolfe Research raised their target price on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. JMP Securities reissued a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Oppenheimer raised their price objective on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Royal Bank of Canada raised their price objective on Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on Alphabet in a research report on Thursday, May 18th. They set a “buy” rating for the company. Five investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 29,006 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the sale, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. 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.

Alphabet Price Performance

Shares of NASDAQ GOOGL 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 fifty-two week low of $83.34 and a fifty-two week high of $129.04. 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. The stock’s 50-day simple moving average is $116.68 and its 200-day simple moving average is $103.15.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the company earned $1.23 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Alphabet Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).

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.