M. Kraus & Co Acquires 470 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 4th, 2023

M. Kraus & Co boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,161 shares of the information services provider’s stock after acquiring an additional 470 shares during the quarter. M. Kraus & Co’s holdings in Alphabet were worth $639,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Spreng Capital Management Inc. lifted its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. lifted its holdings in shares of Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its holdings in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC lifted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its holdings in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GOOGL shares. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Wells Fargo & Company started coverage on shares of Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price target for the company. Evercore ISI boosted their price target on shares of Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a research note on Thursday, March 16th. Finally, Roth Mkm boosted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.63.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the stock in a transaction that occurred 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 owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 794,165 shares of company stock worth $23,767,530. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $119.90 on Tuesday. The stock has a market cap of $1.52 trillion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $129.04. The firm’s 50-day simple moving average is $118.37 and its two-hundred day simple moving average is $104.29.

Alphabet (NASDAQ:GOOGL – Free Report) last issued its earnings results 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 firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.23 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

About Alphabet

(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.

M. Kraus & Co Acquires 470 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Analyst Upgrades and Downgrades

Insider Transactions at Alphabet

Alphabet Price Performance

About Alphabet

Further Reading

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