Wendell David Associates Inc. Sells 2,140 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 6th, 2023

Wendell David Associates Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,165 shares of the information services provider’s stock after selling 2,140 shares during the period. Alphabet makes up 1.4% of Wendell David Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. Wendell David Associates Inc.’s holdings in Alphabet were worth $12,050,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. VitalStone Financial LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $25,000. Live Oak Investment Partners acquired a new position in shares of Alphabet during the fourth quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet in the fourth quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet in the third quarter worth about $38,000. 35.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. Wolfe Research increased their price target on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Wells Fargo & Company initiated coverage on shares of Alphabet in a research report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price target for the company. Oppenheimer increased their price target on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research note on Thursday, March 16th. Finally, Roth Mkm upped their price objective on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Seven investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.54.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, 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 can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold a total of 810,248 shares of company stock worth $25,702,475 over the last three months. 0.88% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $121.75 on Thursday. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.53 and a beta of 1.06. 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 firm has a 50 day simple moving average of $119.05 and a 200 day simple moving average of $104.62. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04.

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

Alphabet 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:GOOGL)

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