Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Orca Investment Management LLC

Posted by Defense World Staff on Jul 12th, 2023

Orca Investment Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,895 shares of the information services provider’s stock after selling 630 shares during the period. Alphabet comprises about 6.0% of Orca Investment Management LLC’s portfolio, making the stock its 3rd biggest holding. Orca Investment Management LLC’s holdings in Alphabet were worth $4,877,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Financial Advisors Network Inc. boosted its position 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 acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its position in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the last quarter. West Michigan Advisors LLC lifted its position in Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares during the last quarter. Somerville Kurt F lifted its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after buying an additional 16 shares during the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Oppenheimer decreased their target price on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird upped their target price on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, Raymond James increased their price target on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.77.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, 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 832,682 shares of company stock worth $26,077,123 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.7 %

GOOG stock opened at $117.71 on Wednesday. The company’s 50 day moving average price is $120.63 and its 200 day moving average price is $106.19. 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 fifty-two week low of $83.45 and a fifty-two week high of $129.55. The firm has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.54 and a beta of 1.07.

Alphabet (NASDAQ:GOOG – Get Free Report) last released 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 firm had revenue of $69.79 billion for 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 business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.