2,080 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Pathway Financial Advisors LLC

Posted by on Jul 27th, 2023

Pathway Financial Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,080 shares of the information services provider’s stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of the company. VitalStone Financial LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $25,000. Live Oak Investment Partners purchased a new position in shares of Alphabet in the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. Finally, IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. 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. Sanford C. Bernstein upped their target price on Alphabet from $130.00 to $135.00 in a research report on Wednesday. Rosenblatt Securities upped their target price on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Citigroup increased their price objective on Alphabet from $130.00 to $153.00 in a research report on Wednesday. Four equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction that occurred on 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 approximately $626,622.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on 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 owns 25,937 shares in the company, valued at approximately $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders have sold a total of 841,688 shares of company stock valued at $29,376,932 in the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Trading Up 5.8 %

Shares of NASDAQ:GOOGL opened at $129.27 on Thursday. The company’s 50-day moving average price is $122.10 and its two-hundred day moving average price is $107.74. 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 one year low of $83.34 and a one year high of $130.98. The stock has a market capitalization of $1.64 trillion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the firm earned $1.21 EPS. On average, equities analysts forecast that Alphabet Inc. will post 5.39 EPS 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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