Fort Washington Investment Advisors Inc. OH Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 25th, 2023

Fort Washington Investment Advisors Inc. OH cut its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,930 shares of the information services provider’s stock after selling 7,065 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Alphabet were worth $9,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Spreng Capital Management Inc. increased its holdings in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. increased its holdings 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 valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its holdings in shares of Alphabet by 0.5% in 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 in the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.3 %

GOOGL opened at $121.53 on Tuesday. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 27.07, a P/E/G ratio of 1.53 and a beta of 1.06. The firm’s 50 day moving average is $122.10 and its 200-day moving average is $107.74. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04. 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 (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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Truist Financial raised their target price on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Bank of America raised their target price on shares of Alphabet from $128.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, July 20th. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and raised their target price for the company from $123.00 to $132.00 in a report on Monday, June 26th. Wolfe Research raised their target price on shares of Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Finally, Wells Fargo & Company initiated coverage on shares of Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 target price for the company. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $132.21.

Insider Activity

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on 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 sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold 841,688 shares of company stock worth $29,376,932 over the last 90 days. 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.