Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Violich Capital Management Inc.

Posted by Defense World Staff on Jul 3rd, 2023

Violich Capital Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,620 shares of the information services provider’s stock after selling 4,230 shares during the quarter. Alphabet makes up about 6.5% of Violich Capital Management Inc.’s holdings, making the stock its 3rd largest holding. Violich Capital Management Inc.’s holdings in Alphabet were worth $38,232,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOG. Corrado Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Gould Capital LLC increased its holdings in shares of Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Essex Investment Management Co. LLC increased 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 valued at $31,000 after purchasing an additional 304 shares during the last quarter. My Personal CFO LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, Milestone Wealth LLC increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 816,599 shares of company stock valued at $24,142,177. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.8 %

GOOG opened at $120.97 on Monday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The business has a fifty day moving average price of $118.76 and a 200 day moving average price of $104.71.

Alphabet (NASDAQ:GOOG – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. Sell-side analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer reduced their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.80.

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.