Walter & Keenan Wealth Management LLC IN ADV Has $8.14 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 16th, 2023

Walter & Keenan Wealth Management LLC IN ADV trimmed its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 78,307 shares of the information services provider’s stock after selling 6,510 shares during the period. Alphabet comprises 3.1% of Walter & Keenan Wealth Management LLC IN ADV’s investment portfolio, making the stock its 5th biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Alphabet were worth $8,144,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after acquiring an additional 129,835,437 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 acquiring an additional 54,077,519 shares during the period. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at approximately $3,059,614,000. Morgan Stanley grew its position in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Alphabet by 1,892.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,718,430 shares of the information services provider’s stock valued at $549,828,000 after acquiring an additional 5,431,413 shares during the period. 27.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on GOOG shares. Robert W. Baird upped their price target on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Raymond James upped their price target on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. UBS Group upped their price target 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, Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $131.14.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares in the company, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 864,122 shares of company stock valued at $29,751,580. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $125.70 on Friday. The firm’s fifty day moving average price is $121.68 and its 200-day moving average price is $106.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a market cap of $1.60 trillion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter last year, the company posted $1.23 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal 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.