Alphabet Inc. (NASDAQ:GOOG) Shares Sold by HGK Asset Management Inc.

Posted by Defense World Staff on Jul 20th, 2023

HGK Asset Management Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,365 shares of the information services provider’s stock after selling 135 shares during the quarter. HGK Asset Management Inc.’s holdings in Alphabet were worth $1,286,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Moneta Group Investment Advisors LLC increased its stake 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 acquiring an additional 129,835,437 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Alphabet by 1,807.4% during the third 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 during the period. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth about $3,059,614,000. Morgan Stanley boosted its holdings in 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 buying an additional 19,612,974 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Alphabet by 1,892.4% during the third quarter. CIBC Private Wealth Group LLC now owns 5,718,430 shares of the information services provider’s stock worth $549,828,000 after buying an additional 5,431,413 shares in the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the sale, the insider now owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the 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 of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 864,122 shares of company stock valued at $29,751,580. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GOOG shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Oppenheimer decreased their price objective on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Finally, UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $130.70.

Alphabet Stock Performance

Shares of GOOG opened at $122.78 on Thursday. 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 capitalization of $1.56 trillion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.60 and a beta of 1.06. The company’s 50 day simple moving average is $122.55 and its 200 day simple moving average is $107.55. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The business 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%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 earnings per share. On average, sell-side analysts predict 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.