Columbus Macro LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 24th, 2023

Columbus Macro LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,860 shares of the information services provider’s stock after buying an additional 391 shares during the period. Columbus Macro LLC’s holdings in Alphabet were worth $300,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOGL. DC Investments Management LLC bought a new stake in Alphabet in the 1st quarter valued at about $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet in the first quarter worth about $225,000. Worth Asset Management LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its stake in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet in the 1st quarter worth approximately $281,000. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com started coverage on Alphabet in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Wells Fargo & Company initiated coverage on Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price for the company. Roth Mkm increased their price target on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $130.00 to $150.00 in a research note on Tuesday, May 23rd. Finally, UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and increased their target price for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.21.

Alphabet Stock Up 0.7 %

Shares of NASDAQ:GOOGL opened at $120.02 on Monday. The stock’s 50-day moving average is $122.00 and its 200 day moving average is $107.49. The company has a market cap 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 company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The company 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 in the prior year, the company earned $1.23 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Tuesday, May 2nd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 841,688 shares of company stock valued at $29,376,932. Company insiders own 0.88% of the company’s stock.

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.