Financial & Tax Architects LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 17th, 2023

Financial & Tax Architects LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,297 shares of the information services provider’s stock after buying an additional 339 shares during the quarter. Financial & Tax Architects LLC’s holdings in Alphabet were worth $551,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC lifted its stake in 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 worth $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $5,487,226,000 after acquiring an additional 54,077,519 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter worth about $3,059,614,000. Morgan Stanley lifted its stake in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in 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 worth $549,828,000 after acquiring an additional 5,431,413 shares in the last quarter. 27.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOG. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer reduced their price target on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $131.14.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’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 sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’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 sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 864,122 shares of company stock valued at $29,751,580 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.7 %

Shares of GOOG stock opened at $125.70 on Monday. The business’s 50 day moving average is $121.68 and its two-hundred day moving average is $106.94. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $129.55. The company has a market capitalization 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. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results 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 return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. During the same period last year, the business posted $1.23 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 5.39 EPS 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.

Financial & Tax Architects LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Analysts Set New Price Targets

Insider Activity

Alphabet Trading Up 0.7 %

Alphabet Company Profile

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