Landmark Financial Advisors LLC Buys 754 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 26th, 2023

Landmark Financial Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,751 shares of the information services provider’s stock after purchasing an additional 754 shares during the quarter. Landmark Financial Advisors LLC’s holdings in Alphabet were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. VitalStone Financial LLC acquired a new stake in Alphabet in the fourth quarter worth about $25,000. Live Oak Investment Partners acquired a new stake in Alphabet in the fourth quarter worth about $26,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $33,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet during the fourth quarter worth $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet during the third quarter worth $38,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the sale, the director now directly owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 854,930 shares of company stock valued at $29,996,488. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a research note on Friday, March 17th. Roth Mkm lifted their target price on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Morgan Stanley lifted their target price on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Finally, Wells Fargo & Company initiated coverage on Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 target price for the company. Five 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.67.

Alphabet Price Performance

NASDAQ:GOOGL opened at $122.34 on Monday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $129.04. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.55 trillion, a P/E ratio of 27.25, a P/E/G ratio of 1.56 and a beta of 1.09. The stock’s fifty day moving average is $116.68 and its two-hundred day moving average is $103.21.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating 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 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.

Alphabet 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.