AGF Management Ltd. Has $8.11 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 30th, 2023

AGF Management Ltd. cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,978 shares of the information services provider’s stock after selling 5,290 shares during the period. AGF Management Ltd.’s holdings in Alphabet were worth $8,110,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOG. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC boosted its stake in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares in the last quarter. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares in the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $133.01 on Friday. The firm’s 50-day moving average price is $123.29 and its two-hundred day moving average price is $109.34. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $134.07. The stock has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.60 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. Alphabet’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 5.62 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the sale, the insider now directly owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders have sold 864,572 shares of company stock valued at $29,808,484 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James raised their price objective on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer raised their price objective on Alphabet from $145.00 to $160.00 in a research report on Wednesday. Susquehanna raised their price objective on Alphabet from $120.00 to $150.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, UBS Group raised their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $132.00.

Alphabet 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.