JTC Employer Solutions Trustee Ltd Has $3.48 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 20th, 2023

JTC Employer Solutions Trustee Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 90.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,565 shares of the information services provider’s stock after selling 332,545 shares during the period. Alphabet accounts for approximately 0.4% of JTC Employer Solutions Trustee Ltd’s investment portfolio, making the stock its 27th largest holding. JTC Employer Solutions Trustee Ltd’s holdings in Alphabet were worth $3,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bornite Capital Management LP bought a new position in shares of Alphabet in the 1st quarter worth $16,688,000. Markel Corp boosted its position in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank boosted its position in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management boosted its position in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.4 %

Shares of NASDAQ:GOOGL opened at $122.03 on Thursday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $129.04. The stock has a market cap of $1.55 trillion, a PE ratio of 27.18, a P/E/G ratio of 1.59 and a beta of 1.06. The business has a 50 day moving average of $121.90 and a 200-day moving average of $106.92. 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 issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were 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 owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 841,688 shares of company stock worth $29,376,932 over the last quarter. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. Wolfe Research raised their price target on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. 51job reiterated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Tigress Financial lifted their target price on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. Jefferies Financial Group lifted their target price on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Finally, Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Seven 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.53.

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.