Forum Financial Management LP Has $5.32 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 6th, 2023

Forum Financial Management LP grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,282 shares of the information services provider’s stock after purchasing an additional 4,138 shares during the period. Forum Financial Management LP’s holdings in Alphabet were worth $5,319,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. VitalStone Financial LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $25,000. Live Oak Investment Partners bought a new stake in Alphabet during the fourth quarter worth $26,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $33,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet during the 3rd quarter worth about $38,000. Institutional investors own 35.38% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of GOOGL opened at $121.75 on Thursday. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.53 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $129.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a fifty day moving average of $119.05 and a 200-day moving average of $104.62.

Alphabet (NASDAQ:GOOGL – Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period last year, the company earned $1.23 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research note on Friday, March 17th. StockNews.com started coverage on Alphabet in a research note on Thursday, May 18th. They set a “buy” rating for the company. 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Finally, 888 restated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Seven research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $129.54.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The disclosure for this sale can be found here. Insiders have sold a total of 810,248 shares of company stock worth $25,702,475 in the last ninety days. Company insiders own 0.88% of the company’s stock.

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.

Forum Financial Management LP Has $5.32 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Stock Up 1.5 %

Analyst Upgrades and Downgrades

Insider Buying and Selling

Alphabet Company Profile

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