Augustine Asset Management Inc. Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 28th, 2023

Augustine Asset Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,234 shares of the information services provider’s stock, valued at approximately $232,000.

Other institutional investors also recently bought and sold shares of the company. Bornite Capital Management LP purchased a new position in Alphabet during the first quarter valued at $16,688,000. Markel Corp increased its holdings in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank increased its holdings in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Insiders have sold 841,908 shares of company stock valued at $29,403,717 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $129.40 on Friday. The firm has a fifty day simple moving average of $122.33 and a 200-day simple moving average of $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 Inc. has a 1-year low of $83.34 and a 1-year high of $133.24. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.56 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.73%. During the same quarter in the previous year, the firm posted $1.21 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on GOOGL. Credit Suisse Group lifted their price target on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Oppenheimer upped their price target on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Sanford C. Bernstein upped their price target on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday. Robert W. Baird increased their target price on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Finally, JMP Securities increased their target price on shares of Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $142.19.

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.