Alphabet Inc. (NASDAQ:GOOGL) is Silvant Capital Management LLC’s 6th Largest Position

Posted by Defense World Staff on Jul 20th, 2023

Silvant Capital Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 23.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 428,248 shares of the information services provider’s stock after selling 131,212 shares during the period. Alphabet comprises about 2.9% of Silvant Capital Management LLC’s holdings, making the stock its 6th biggest position. Silvant Capital Management LLC’s holdings in Alphabet were worth $44,422,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its position in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp boosted its position in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new position in Alphabet during the fourth quarter worth about $8,335,063,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction 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 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 this link. In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction 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 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 this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 841,688 shares of company stock worth $29,376,932. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. 888 reiterated a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Bank of America raised their price objective on shares of Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Credit Suisse Group raised their price objective on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday. Sanford C. Bernstein lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 price objective for the company. in a research report on Tuesday, June 27th. Finally, Truist Financial raised their price objective on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.53.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $122.03 on Thursday. The stock has a market cap of $1.55 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The firm’s fifty day simple moving average is $121.90 and its 200 day simple moving average is $106.92. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly 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 net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.39 EPS for the current 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.