Dillon & Associates Inc. Has $28.70 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 29th, 2023

Dillon & Associates Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 95.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,906 shares of the information services provider’s stock after selling 194,014 shares during the quarter. Alphabet comprises 5.0% of Dillon & Associates Inc.’s holdings, making the stock its 4th biggest position. Dillon & Associates Inc.’s holdings in Alphabet were worth $28,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. FourThought Financial Partners LLC bought a new stake in Alphabet during the 4th quarter worth approximately $5,415,000. Glenview Trust Co boosted its position in Alphabet by 10.7% during the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after acquiring an additional 44,278 shares during the last quarter. Bfsg LLC boosted its position in Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after acquiring an additional 4,975 shares during the last quarter. Marcum Wealth LLC boosted its position in Alphabet by 4.8% during the 1st quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after acquiring an additional 927 shares during the last quarter. Finally, Ibex Investors LLC acquired a new position in Alphabet during the 4th quarter worth approximately $2,617,000. 35.38% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $132.58 on Friday. The stock’s 50-day simple moving average is $122.65 and its 200 day simple moving average is $108.59. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $133.74. The firm has a market capitalization of $1.68 trillion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a quick ratio of 2.32, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same period last year, the firm posted $1.21 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 5.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOGL. Stifel Nicolaus upped their price target on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. 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. Barclays increased their price objective on Alphabet from $160.00 to $200.00 in a report on Wednesday. Wolfe Research increased their price objective on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Finally, 51job reissued a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.19.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet 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 of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet 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 of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the sale, the director now directly owns 13,329 shares in the company, valued at $1,745,432.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 842,138 shares of company stock valued at $29,433,836. 0.88% of the stock is currently owned by corporate insiders.

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.