Baker Chad R Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 24th, 2023

Baker Chad R grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,075 shares of the information services provider’s stock after purchasing an additional 1,495 shares during the period. Alphabet makes up approximately 3.5% of Baker Chad R’s holdings, making the stock its 8th biggest position. Baker Chad R’s holdings in Alphabet were worth $13,908,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. VitalStone Financial LLC acquired a new position in Alphabet during the 4th quarter valued at about $25,000. Live Oak Investment Partners bought a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the third quarter worth approximately $38,000. Finally, IAG Wealth Partners LLC lifted its position in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. 888 reiterated a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Wells Fargo & Company assumed coverage on Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 target price on the stock. Robert W. Baird upped their price target on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday. Bank of America lifted their price objective on shares of Alphabet from $128.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James increased their target price on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.21.

Alphabet Trading Up 0.7 %

Shares of GOOGL stock opened at $120.02 on Monday. The business’s 50 day moving average is $122.00 and its two-hundred day moving average is $107.49. 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 Inc. has a 12 month low of $83.34 and a 12 month high of $129.04. The company has a market cap of $1.52 trillion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.23 EPS. Equities analysts predict that Alphabet Inc. will post 5.39 EPS 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 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 transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 841,688 shares of company stock worth $29,376,932. 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.