DigitalBridge Group Inc. Invests $9.98 Million in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Jul 30th, 2023

DigitalBridge Group Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 95,959 shares of the information services provider’s stock, valued at approximately $9,980,000. Alphabet comprises approximately 1.2% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 18th largest holding.

Other large investors have also modified their holdings of the company. Corrado Advisors LLC bought a new position in Alphabet in the fourth quarter worth about $27,000. Milestone Wealth LLC raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after buying an additional 361 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $48,000. NewSquare Capital LLC raised its holdings in shares of Alphabet by 81.3% during the fourth quarter. NewSquare Capital LLC now owns 580 shares of the information services provider’s stock valued at $51,000 after buying an additional 260 shares during the last quarter. Finally, Schubert & Co raised its holdings in shares of Alphabet by 54.7% during the first quarter. Schubert & Co now owns 498 shares of the information services provider’s stock valued at $52,000 after buying an additional 176 shares during the last quarter. Institutional investors own 27.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. UBS Group lifted their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer raised their price objective on shares of Alphabet from $145.00 to $160.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, Robert W. Baird raised their price objective on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $132.00.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet 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 transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 864,572 shares of company stock worth $29,808,484. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.4 %

Alphabet stock opened at $133.01 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. The firm has a market cap of $1.69 trillion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $134.07. The firm’s 50 day moving average price is $123.29 and its two-hundred day moving average price is $109.34.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly 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. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 5.62 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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