Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Financial Insights Inc.

Posted by Defense World Staff on Jul 2nd, 2023

Financial Insights Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,700 shares of the information services provider’s stock after buying an additional 236 shares during the period. Alphabet makes up approximately 1.0% of Financial Insights Inc.’s holdings, making the stock its 24th largest position. Financial Insights Inc.’s holdings in Alphabet were worth $2,355,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. FourThought Financial Partners LLC acquired a new stake in Alphabet in the fourth quarter valued at about $5,415,000. Glenview Trust Co lifted its position in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after purchasing an additional 44,278 shares during the period. Bfsg LLC lifted its position in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the period. Ibex Investors LLC acquired a new stake in Alphabet in the fourth quarter valued at about $2,617,000. Finally, Arjuna Capital lifted its position in Alphabet by 2.8% in the fourth quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after purchasing an additional 3,427 shares during the period. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and raised their price objective for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Wells Fargo & Company started coverage on shares of Alphabet in a research report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price target for the company. Morgan Stanley lifted their price target on shares of Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Oppenheimer lifted their price target on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, StockNews.com started coverage on shares of Alphabet in a research report on Thursday, May 18th. They set a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.63.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total value of $29,695.20. Following the transaction, the director now owns 12,800 shares in the company, valued at approximately $1,583,744. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 826,544 shares of company stock worth $27,117,461. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $119.70 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.52 and a beta of 1.09. The firm’s fifty day simple moving average is $118.09 and its 200 day simple moving average is $104.02. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04.

Alphabet (NASDAQ:GOOGL – Free Report) last posted its earnings results 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 business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Alphabet Company 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.

Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Financial Insights Inc.

Analyst Ratings Changes

Insider Activity at Alphabet

Alphabet Stock Performance

Alphabet Company Profile

Further Reading

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