S.E.E.D. Planning Group LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 27th, 2023

S.E.E.D. Planning Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,325 shares of the information services provider’s stock after buying an additional 10,707 shares during the period. Alphabet accounts for approximately 3.4% of S.E.E.D. Planning Group LLC’s portfolio, making the stock its 6th largest holding. S.E.E.D. Planning Group LLC’s holdings in Alphabet were worth $8,851,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. Credit Suisse Group decreased their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Piper Sandler increased their target price on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Bank of America increased their price objective on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Citigroup raised their target price on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Finally, StockNews.com assumed coverage on Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.90.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated 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 owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,930 shares of company stock worth $29,996,488. 0.88% of the stock is currently owned by company insiders.

Alphabet Trading Down 3.3 %

Alphabet stock opened at $118.34 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $129.04. The company’s fifty day simple moving average is $116.93 and its 200-day simple moving average is $103.38. The stock has a market cap of $1.50 trillion, a P/E ratio of 26.36, a P/E/G ratio of 1.56 and a beta of 1.09.

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

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.