James J. Burns & Company LLC Buys Shares of 10,905 Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 11th, 2023

James J. Burns & Company LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,905 shares of the information services provider’s stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. DC Investments Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $184,000. Turim 21 Investimentos Ltda. raised its stake 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 worth $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP acquired a new position in shares of Alphabet during the 1st quarter worth $279,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Alphabet during the 4th quarter worth $294,000. Institutional investors and hedge funds own 27.17% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was bought at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold a total of 832,682 shares of company stock worth $26,077,123 in the last 90 days. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. 92 Resources reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Oppenheimer cut their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. UBS Group boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.77.

Alphabet Stock Down 2.7 %

Shares of NASDAQ:GOOG opened at $116.87 on Tuesday. 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 1 year low of $83.45 and a 1 year high of $129.55. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 26.03, a PEG ratio of 1.54 and a beta of 1.07. The stock has a 50-day simple moving average of $120.39 and a 200-day simple moving average of $105.99.

Alphabet (NASDAQ:GOOG – Get 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 analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current year.

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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