Westhampton Capital LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 28th, 2023

Westhampton Capital LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,194 shares of the information services provider’s stock after purchasing an additional 1,860 shares during the period. Alphabet comprises about 1.1% of Westhampton Capital LLC’s holdings, making the stock its 28th largest holding. Westhampton Capital LLC’s holdings in Alphabet were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spreng Capital Management Inc. increased its position in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. increased its position in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. increased its position in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC increased its position in Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management increased its position in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’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 transaction of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 825,924 shares of company stock worth $27,042,517. 0.88% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $118.33 on Wednesday. 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 firm’s 50-day moving average price is $117.21 and its two-hundred day moving average price is $103.56. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 26.35, a P/E/G ratio of 1.56 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating 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 analyst estimates of $57.19 billion. During the same quarter last year, the business earned $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 year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial boosted their price target on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Royal Bank of Canada upped their target price on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research note on Friday, March 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Finally, Robert W. Baird upped their target price on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.90.

About Alphabet

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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.