D.B. Root & Company LLC Has $331,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 2nd, 2023

D.B. Root & Company LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 16.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,183 shares of the information services provider’s stock after selling 644 shares during the quarter. D.B. Root & Company LLC’s holdings in Alphabet were worth $331,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,885.5% during the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. increased its holdings in Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares in the last quarter. State Street Corp increased its holdings in Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its holdings in shares of Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, 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 at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, 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 at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’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 in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 848,978 shares of company stock worth $27,492,109. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alphabet Trading Up 0.8 %

Shares of GOOG stock opened at $120.97 on Friday. 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 Inc. has a 52-week low of $83.45 and a 52-week high of $129.55. The company has a market capitalization of $1.54 trillion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The business’s fifty day moving average is $118.76 and its 200 day moving average is $104.64.

Alphabet (NASDAQ:GOOG – Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

About Alphabet

(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.