Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Ritholtz Wealth Management

Posted by Defense World Staff on Jul 5th, 2023

Ritholtz Wealth Management raised its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,189 shares of the information services provider’s stock after purchasing an additional 13,432 shares during the quarter. Alphabet comprises approximately 0.4% of Ritholtz Wealth Management’s investment portfolio, making the stock its 27th biggest holding. Ritholtz Wealth Management’s holdings in Alphabet were worth $8,340,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GOOG. Vanguard Group Inc. increased its stake 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 valued at $40,593,957,000 after purchasing an additional 400,930,216 shares during the period. BlackRock Inc. increased its stake in shares of Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after acquiring an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after acquiring an additional 192,607,045 shares during the period. State Street Corp increased its stake in shares of Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after acquiring an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after acquiring an additional 129,835,437 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.

Analysts Set New Price Targets

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

Alphabet Trading Down 0.3 %

Shares of NASDAQ:GOOG opened at $120.56 on Wednesday. The firm has a fifty day moving average of $119.36 and a two-hundred day moving average of $105.13. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. 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 (NASDAQ:GOOG – 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, beating analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. On average, equities analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The shares were 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 owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the transaction, the director now owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 816,599 shares of company stock valued at $24,142,177 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.