D.A. Davidson & CO. Buys 5,766 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 13th, 2023

D.A. Davidson & CO. lifted its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,055 shares of the information services provider’s stock after buying an additional 5,766 shares during the quarter. D.A. Davidson & CO.’s holdings in Alphabet were worth $25,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock worth $8,631,760,000 after purchasing an additional 988,569 shares in the last quarter. Morgan Stanley grew its position in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet during the 4th quarter valued at approximately $3,059,614,000. Institutional investors own 27.17% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The stock was 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 approximately $2,788,486.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The stock was 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 approximately $2,788,486.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, July 3rd. The shares were 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 $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 832,682 shares of company stock valued at $26,077,123 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of NASDAQ GOOG opened at $119.62 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $120.90 and a two-hundred day simple moving average of $106.29. The firm has a market cap of $1.52 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $129.55.

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 for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during 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%. Alphabet’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. Analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.