Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Investment Management of Virginia LLC

Posted by on Jul 16th, 2023

Investment Management of Virginia LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,905 shares of the information services provider’s stock after purchasing an additional 720 shares during the period. Investment Management of Virginia LLC’s holdings in Alphabet were worth $1,446,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in Alphabet by 217.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 68,746 shares of the information services provider’s stock worth $7,150,000 after acquiring an additional 47,070 shares during the period. Peregrine Capital Management LLC grew its stake in Alphabet by 1.3% in the 1st quarter. Peregrine Capital Management LLC now owns 260,571 shares of the information services provider’s stock worth $27,099,000 after acquiring an additional 3,331 shares during the period. Plimoth Trust Co. LLC grew its stake in Alphabet by 0.9% in the 1st quarter. Plimoth Trust Co. LLC now owns 14,370 shares of the information services provider’s stock worth $1,494,000 after acquiring an additional 130 shares during the period. Litman Gregory Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $1,203,000. Finally, New Potomac Partners LLC grew its stake in Alphabet by 2.1% in the 1st quarter. New Potomac Partners LLC now owns 34,605 shares of the information services provider’s stock worth $3,599,000 after acquiring an additional 700 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer lowered their price objective on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, UBS Group boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.14.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 864,122 shares of company stock worth $29,751,580. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $125.70 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. 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 market capitalization of $1.60 trillion, a P/E ratio of 28.00, a P/E/G ratio of 1.60 and a beta of 1.06. The company’s fifty day moving average price is $121.68 and its two-hundred day moving average price is $106.79.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS 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 firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, research analysts anticipate 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:GOOG)

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