Heirloom Wealth Management Has $13.25 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 18th, 2023

Heirloom Wealth Management lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 18.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,381 shares of the information services provider’s stock after acquiring an additional 19,908 shares during the period. Alphabet makes up approximately 6.3% of Heirloom Wealth Management’s portfolio, making the stock its 6th largest position. Heirloom Wealth Management’s holdings in Alphabet were worth $13,248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Corrado Advisors LLC purchased a new stake in Alphabet in the fourth quarter worth approximately $27,000. My Personal CFO LLC purchased a new stake in Alphabet in the fourth quarter worth approximately $34,000. Milestone Wealth LLC boosted its holdings in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares during the last quarter. Lowe Wealth Advisors LLC boosted its holdings in Alphabet by 187.5% in the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, JDM Financial Group LLC purchased a new stake in Alphabet in the fourth quarter worth approximately $46,000. Institutional investors own 27.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.14.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 864,122 shares of company stock worth $29,751,580. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $125.06 on Tuesday. 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 company has a market cap of $1.59 trillion, a P/E ratio of 27.85, a P/E/G ratio of 1.61 and a beta of 1.07. The firm’s fifty day moving average is $122.02 and its two-hundred day moving average is $107.19. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $129.55.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. Alphabet’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. As a group, analysts anticipate that Alphabet Inc. will post 5.39 EPS 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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