Lincoln Capital LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 22nd, 2023

Lincoln Capital LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,444 shares of the information services provider’s stock after selling 164 shares during the quarter. Alphabet comprises approximately 4.9% of Lincoln Capital LLC’s investment portfolio, making the stock its 7th largest holding. Lincoln Capital LLC’s holdings in Alphabet were worth $17,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. VitalStone Financial LLC purchased a new stake in Alphabet in the 4th quarter valued at $25,000. Live Oak Investment Partners bought a new stake in shares of Alphabet in the 4th quarter worth $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet in the third quarter valued at about $38,000. Finally, IAG Wealth Partners LLC lifted its position in shares of Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GOOGL shares. TD Cowen increased their price objective on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Evercore ISI lifted their price target on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Robert W. Baird raised their target price on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, StockNews.com started coverage on shares of Alphabet in a research report on Thursday, May 18th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.21.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value 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 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 three months. 0.88% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $120.02 on Friday. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.59 and a beta of 1.06. 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 stock has a fifty day moving average of $122.00 and a 200 day moving average of $107.23. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued 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 firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the company posted $1.23 EPS. On average, research analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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