Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Community Capital Management LLC

Posted by Defense World Staff on Jul 30th, 2023

Community Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the information services provider’s stock after selling 4,000 shares during the period. Alphabet comprises 2.0% of Community Capital Management LLC’s portfolio, making the stock its 16th largest holding. Community Capital Management LLC’s holdings in Alphabet were worth $1,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter worth about $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth about $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter worth about $206,000. Eudaimonia Advisors LLC grew its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the first quarter worth about $281,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Alphabet Stock Up 2.5 %

Shares of GOOGL stock opened at $132.58 on Friday. The stock has a market cap of $1.68 trillion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The stock has a fifty day moving average price of $122.65 and a 200 day moving average price of $108.73. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.32.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the previous year, the company earned $1.21 EPS. Analysts predict that Alphabet Inc. will post 5.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GOOGL shares. Barclays lifted their price target on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday. 888 reiterated a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $123.00 to $132.00 in a report on Monday, June 26th. The Goldman Sachs Group boosted their target price on shares of Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 17th. Finally, KeyCorp boosted their target price on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.19.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $130.95, for a total value of $30,118.50. Following the transaction, the director now directly owns 13,329 shares of the company’s stock, valued at approximately $1,745,432.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $130.95, for a total transaction of $30,118.50. Following the completion of the sale, the director now directly owns 13,329 shares in the company, valued at approximately $1,745,432.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the transaction, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. In the last three months, insiders have sold 842,138 shares of company stock valued at $29,433,836. 0.88% of the stock is owned by insiders.

About Alphabet

(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.