Mason & Associates Inc Buys 1,285 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 8th, 2023

Mason & Associates Inc grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 26.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,200 shares of the information services provider’s stock after buying an additional 1,285 shares during the period. Mason & Associates Inc’s holdings in Alphabet were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC lifted its holdings in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares in the last quarter. Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Oppenheimer dropped their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, 92 Resources reissued a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.77.

Insider Buying and Selling

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 stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the purchase, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. In the last three months, insiders have sold 832,682 shares of company stock valued at $26,077,123. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.7 %

GOOG stock opened at $120.14 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.53 trillion, a PE ratio of 26.76, a PEG ratio of 1.57 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. The business’s 50 day simple moving average is $120.21 and its 200 day simple moving average is $105.57.

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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