Dubuque Bank & Trust Co. Sells 178 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jun 26th, 2023

Dubuque Bank & Trust Co. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,669 shares of the information services provider’s stock after selling 178 shares during the period. Dubuque Bank & Trust Co.’s holdings in Alphabet were worth $1,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monarch Capital Management Inc. lifted its position in Alphabet by 4.0% during the fourth quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock valued at $3,612,000 after purchasing an additional 1,562 shares during the period. Grand Jean Capital Management Inc. lifted its position in Alphabet by 1,926.2% during the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after purchasing an additional 130,367 shares during the period. Matthew Goff Investment Advisor LLC lifted its position in Alphabet by 4.2% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock valued at $655,000 after purchasing an additional 300 shares during the period. Gould Capital LLC lifted its position in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares during the period. Finally, Clarity Financial LLC lifted its position in Alphabet by 2,118.6% during the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock valued at $5,935,000 after purchasing an additional 58,940 shares during the period. Institutional investors own 27.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOG shares. Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. 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 report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird upped their target price on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Raymond James upped their target price on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.80.

Alphabet Stock Performance

GOOG opened at $123.02 on Monday. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.57 and a beta of 1.09. The company has a fifty day moving average of $117.33 and a 200 day moving average of $103.81. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55. 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 (NASDAQ:GOOG – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. Alphabet’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction 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 transaction, the director now owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction 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 transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 877,364 shares of company stock valued at $30,371,135. Corporate insiders own 12.99% 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.