Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by PDS Planning Inc

Posted by Defense World Staff on Jul 30th, 2023

PDS Planning Inc increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,583 shares of the information services provider’s stock after purchasing an additional 6,418 shares during the quarter. PDS Planning Inc’s holdings in Alphabet were worth $2,550,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated 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 owns 13,329 shares in the company, valued at $1,745,432.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on 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 owns 13,329 shares in the company, valued at approximately $1,745,432.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 842,138 shares of company stock worth $29,433,836. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Wolfe Research raised their price target on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Truist Financial lifted their price objective on Alphabet from $122.00 to $160.00 in a research report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.

Alphabet Trading Up 2.5 %

NASDAQ:GOOGL opened at $132.58 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.17. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74. The business’s 50-day simple moving average is $122.65 and its 200 day simple moving average is $108.73. The stock has a market cap 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 released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 5.61 earnings per share for the current fiscal year.

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.