Horan Securities Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 3rd, 2023

Horan Securities Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 25.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,351 shares of the information services provider’s stock after acquiring an additional 275 shares during the period. Horan Securities Inc.’s holdings in Alphabet were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after buying an additional 400,930,216 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 61,587.1% in the fourth 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 buying an additional 129,835,437 shares during the last quarter. Hedge funds and other institutional investors own 27.17% of the company’s stock.

Alphabet Stock Performance

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. 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 Inc. has a 52-week low of $83.45 and a 52-week high of $129.55. The firm’s fifty day simple moving average is $118.76 and its two-hundred day simple moving average is $104.71.

Alphabet (NASDAQ:GOOG – Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) 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 the consensus estimate of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird increased their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group increased their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Oppenheimer cut their price objective on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, Raymond James increased their price objective on shares of Alphabet from $119.00 to $130.00 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, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $132.80.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the transaction, the director now directly owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly 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 the SEC website. Also, Director Frances Arnold sold 240 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 13,040 shares in the company, valued at $1,565,060.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 816,599 shares of company stock valued at $24,142,177. Corporate insiders own 12.99% of the company’s stock.

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.