Boyar Asset Management Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 24th, 2023

Boyar Asset Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 109.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,621 shares of the information services provider’s stock after purchasing an additional 5,017 shares during the period. Boyar Asset Management Inc.’s holdings in Alphabet were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. raised its position in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC lifted its position in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its holdings in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. 35.38% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $120.02 on Monday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $129.04. The firm has a market capitalization of $1.52 trillion, a PE ratio of 26.73, a P/E/G ratio of 1.53 and a beta of 1.06. The business’s 50 day moving average price is $122.00 and its 200-day moving average price is $107.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted 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. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the prior year, the business earned $1.23 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction 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 transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated 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 directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders have sold 841,688 shares of company stock worth $29,376,932 in the last ninety days. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. 888 restated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Evercore ISI boosted their target price on shares of Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. TD Cowen raised their price target on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Credit Suisse Group boosted their price objective on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Finally, Roth Mkm upped their target price on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.21.

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.