Annex Advisory Services LLC Has $5.61 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 24th, 2023

Annex Advisory Services LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 433.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,052 shares of the information services provider’s stock after buying an additional 43,928 shares during the period. Annex Advisory Services LLC’s holdings in Alphabet were worth $5,607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Bornite Capital Management LP acquired a new stake in shares of Alphabet during the 1st quarter valued at $16,688,000. Markel Corp increased its stake in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank raised its holdings in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its stake in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wolfe Research raised their price target on Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. The Goldman Sachs Group lifted their target price on shares of Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 17th. StockNews.com began coverage on shares of Alphabet in a research report on Thursday, May 18th. They issued a “buy” rating for the company. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Finally, Sanford C. Bernstein downgraded shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price on the stock. in a research report on Tuesday, June 27th. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.21.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction 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 directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 841,688 shares of company stock worth $29,376,932. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $120.02 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The stock’s fifty day simple moving average is $122.00 and its 200 day simple moving average is $107.49. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.53 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping 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 analyst estimates of $57.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal 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.