Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Seascape Capital Management

Posted by Defense World Staff on Jul 28th, 2023

Seascape Capital Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,786 shares of the information services provider’s stock after acquiring an additional 947 shares during the quarter. Alphabet comprises about 1.7% of Seascape Capital Management’s investment portfolio, making the stock its 15th biggest holding. Seascape Capital Management’s holdings in Alphabet were worth $3,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spreng Capital Management Inc. lifted 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 worth $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. lifted its stake in Alphabet by 0.3% in the first 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 during the period. Maple Capital Management Inc. grew its holdings in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC raised 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 lifted its position 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 worth $4,264,000 after purchasing an additional 8 shares during the period. Institutional investors own 35.38% of the company’s stock.

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $129.40 on Friday. The firm has a market cap of $1.64 trillion, a P/E ratio of 27.42, a PEG ratio of 1.56 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $133.24. The stock’s 50 day moving average is $122.33 and its two-hundred day moving average is $108.13. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly 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 firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.73%. During the same quarter last year, the company earned $1.21 EPS. Analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Mizuho upped their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday. Oppenheimer boosted their target price on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Citigroup increased their target price on shares of Alphabet from $130.00 to $153.00 in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $145.00 to $155.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $142.19.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’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 sale, 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 sold 841,908 shares of company stock valued at $29,403,717 over the last 90 days. Corporate 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.