Godsey & Gibb Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 2nd, 2023

Godsey & Gibb Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,920 shares of the information services provider’s stock, valued at approximately $304,000.

Several other hedge funds also recently modified their holdings of the business. Financial Advisors Network Inc. increased its holdings in shares of Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. increased its holdings in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC increased its holdings in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F increased its holdings 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 valued at $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Frances Arnold sold 240 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the sale, the director now owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 approximately $2,788,486.87. The disclosure for this sale can be found here. Insiders 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 insiders.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOG opened at $120.97 on Friday. The company has a 50 day simple moving average of $118.76 and a 200 day simple moving average of $104.64. The firm has a market cap 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. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55. 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 (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, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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