Shepherd Financial Partners LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 30th, 2023

Shepherd Financial Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,622 shares of the information services provider’s stock after selling 110 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Alphabet were worth $2,554,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Meridian Wealth Advisors LLC increased its stake in Alphabet by 2.9% in the 1st quarter. Meridian Wealth Advisors LLC now owns 47,975 shares of the information services provider’s stock valued at $4,976,000 after buying an additional 1,331 shares during the period. QV Investors Inc. grew its stake in Alphabet by 15.1% in the 1st quarter. QV Investors Inc. now owns 241,870 shares of the information services provider’s stock valued at $25,089,000 after acquiring an additional 31,740 shares during the last quarter. Birchcreek Wealth Management LLC grew its stake in Alphabet by 35.7% in the 1st quarter. Birchcreek Wealth Management LLC now owns 8,953 shares of the information services provider’s stock valued at $929,000 after acquiring an additional 2,353 shares during the last quarter. PDS Planning Inc grew its stake in Alphabet by 35.3% in the 1st quarter. PDS Planning Inc now owns 24,583 shares of the information services provider’s stock valued at $2,550,000 after acquiring an additional 6,418 shares during the last quarter. Finally, Lutz Financial Services LLC acquired a new stake in Alphabet in the 1st quarter valued at about $254,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders sold 842,138 shares of company stock valued at $29,433,836 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.5 %

Shares of NASDAQ:GOOGL opened at $132.58 on Friday. 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 Inc. has a 52-week low of $83.34 and a 52-week high of $133.74. The company has a 50 day moving average of $122.65 and a two-hundred day moving average of $108.73. The company has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data 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. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the company earned $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 51job reissued a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Wolfe Research increased their price objective on shares of Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Truist Financial upped their target price on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday. Roth Mkm upped their target price on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average 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.