Jupiter Wealth Management LLC Has $9.90 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 26th, 2023

Jupiter Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 38.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,400 shares of the information services provider’s stock after buying an additional 26,700 shares during the period. Alphabet makes up 9.1% of Jupiter Wealth Management LLC’s holdings, making the stock its largest position. Jupiter Wealth Management LLC’s holdings in Alphabet were worth $9,896,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GOOGL. FourThought Financial Partners LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $5,415,000. Glenview Trust Co raised its position in shares of Alphabet by 10.7% during the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after purchasing an additional 44,278 shares during the period. Bfsg LLC lifted its holdings in shares of Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $2,617,000. Finally, Arjuna Capital increased its stake in Alphabet by 2.8% in the 4th quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock worth $11,253,000 after purchasing an additional 3,427 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of GOOGL stock opened at $122.34 on Monday. 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 Inc. has a 1 year low of $83.34 and a 1 year high of $129.04. The firm’s fifty day simple moving average is $116.68 and its 200 day simple moving average is $103.21. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.56 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $57.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. UBS Group lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Piper Sandler increased their target price on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Robert W. Baird lifted their price target on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Finally, Truist Financial increased their price objective on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 7,286 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average cost of $26.98 per share, for a total transaction of $196,576.28. Following the purchase, the insider now owns 2,647,312 shares of the company’s stock, valued at $71,424,477.76. The disclosure for this purchase can be found here. Insiders sold a total of 854,930 shares of company stock valued at $29,996,488 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Alphabet 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.