Boston Trust Walden Corp Has $139.72 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 4th, 2023

Boston Trust Walden Corp lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,343,439 shares of the information services provider’s stock after selling 52,740 shares during the period. Alphabet makes up about 1.2% of Boston Trust Walden Corp’s holdings, making the stock its 12th biggest position. Boston Trust Walden Corp’s holdings in Alphabet were worth $139,718,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Wendell David Associates Inc. acquired a new stake in Alphabet during the first quarter worth approximately $214,000. Tufton Capital Management grew its stake in Alphabet by 2.3% during the first quarter. Tufton Capital Management now owns 117,493 shares of the information services provider’s stock worth $12,219,000 after purchasing an additional 2,665 shares during the period. Carderock Capital Management Inc. bought a new position in Alphabet in the first quarter worth approximately $62,000. MinichMacGregor Wealth Management LLC boosted its holdings in Alphabet by 502.1% in the first quarter. MinichMacGregor Wealth Management LLC now owns 6,141 shares of the information services provider’s stock worth $639,000 after acquiring an additional 5,121 shares in the last quarter. Finally, Ballast Inc. boosted its holdings in Alphabet by 13.6% in the first quarter. Ballast Inc. now owns 4,702 shares of the information services provider’s stock worth $489,000 after acquiring an additional 562 shares in the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the transaction, the director now directly owns 13,040 shares in the company, valued at $1,565,060.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, June 26th. The stock was sold at an average price of $121.42, for a total value of $46,139.60. Following the completion of the transaction, the director now directly owns 4,700 shares in the company, valued at $570,674. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the sale, the director now directly owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Insiders sold 816,599 shares of company stock valued at $24,142,177 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $120.56 on Tuesday. 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 simple moving average of $119.04 and a two-hundred day simple moving average of $104.92. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55. The company has a market capitalization of $1.53 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.09.

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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