Cardinal Capital Management Sells 146 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 3rd, 2023

Cardinal Capital Management reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,148 shares of the information services provider’s stock after selling 146 shares during the period. Cardinal Capital Management’s holdings in Alphabet were worth $1,471,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOG. Corrado Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $27,000. Gould Capital LLC increased its position in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of Alphabet by 1,900.0% in the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares in the last quarter. My Personal CFO LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, Milestone Wealth LLC grew its stake in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 361 shares in the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer reduced their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird raised their price target on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, UBS Group raised their target price 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. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.80.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the sale, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was 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 directly owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders have sold a total of 816,599 shares of company stock valued at $24,142,177 over the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOG opened at $120.97 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55. The firm’s fifty day moving average is $118.76 and its 200 day moving average is $104.71. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.54 and a beta of 1.09.

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

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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