Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Elevated Capital Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

Elevated Capital Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,920 shares of the information services provider’s stock after purchasing an additional 240 shares during the period. Elevated Capital Advisors LLC’s holdings in Alphabet were worth $1,448,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Totem Point Management LLC boosted its stake in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares during the last quarter. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. boosted its stake in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its stake in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOOG shares. Robert W. Baird lifted their price target on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James upped their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer dropped their target price on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.80.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $120.97 on Friday. The stock’s 50-day moving average is $118.76 and its two-hundred day moving average is $104.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $1.23 EPS. Alphabet’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated 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 transaction, the insider now owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated 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 transaction, the insider now owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. 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 in the last quarter. 12.99% of the stock is owned by company insiders.

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.