Naples Global Advisors LLC Sells 1,774 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jun 29th, 2023

Naples Global Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,805 shares of the information services provider’s stock after selling 1,774 shares during the quarter. Naples Global Advisors LLC’s holdings in Alphabet were worth $2,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Corrado Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter worth $27,000. Gould Capital LLC lifted its holdings in shares of Alphabet by 2,150.0% in 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 in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares during the period. My Personal CFO LLC bought a new position in shares of Alphabet during the fourth quarter worth about $34,000. Finally, Bellwether Advisors LLC raised its position in Alphabet by 9,400.0% in the 3rd quarter. Bellwether Advisors LLC now owns 380 shares of the information services provider’s stock valued at $36,000 after buying an additional 376 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Raymond James lifted their price objective on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Robert W. Baird boosted their price target on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. UBS Group upped their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, Oppenheimer decreased their price target on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.80.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the transaction, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold 848,738 shares of company stock valued at $27,463,304 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $121.08 on Thursday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The company’s 50 day moving average price is $118.18 and its two-hundred day moving average price is $104.28. The firm has a market cap of $1.54 trillion, a PE ratio of 26.97, a PEG ratio of 1.52 and a beta of 1.09. 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 (NASDAQ:GOOG – Free Report) last announced its quarterly earnings data 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 firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Equities research analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current year.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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