Relyea Zuckerberg Hanson LLC Sells 1,471 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 2nd, 2023

Relyea Zuckerberg Hanson LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,118 shares of the information services provider’s stock after selling 1,471 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Alphabet were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Vanguard Group Inc. grew its position in shares of Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. BlackRock Inc. boosted its holdings in Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 1,770.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares in the last quarter. State Street Corp increased its position 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 increased its position in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now owns 13,040 shares in the company, valued at $1,565,060.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 240 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the sale, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The disclosure for this sale can be found here. Insiders have sold a total of 848,978 shares of company stock worth $27,492,109 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.8 %

NASDAQ GOOG 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. The company has a market capitalization of $1.54 trillion, a P/E ratio of 26.94, a P/E/G ratio of 1.54 and a beta of 1.09. Alphabet Inc. has a one year low of $83.45 and a one year high of $129.55. The stock has a 50 day moving average price of $118.76 and a 200-day moving average price of $104.64.

Alphabet (NASDAQ:GOOG – Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $1.23 EPS. As a group, equities analysts predict 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.