BlackDiamond Wealth Management Inc. Sells 384 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 1st, 2023

BlackDiamond Wealth Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,715 shares of the information services provider’s stock after selling 384 shares during the quarter. Alphabet makes up approximately 0.8% of BlackDiamond Wealth Management Inc.’s investment portfolio, making the stock its 27th largest position. BlackDiamond Wealth Management Inc.’s holdings in Alphabet were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Live Oak Investment Partners bought a new position in Alphabet in the 4th quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet during the 3rd quarter worth approximately $38,000. IAG Wealth Partners LLC raised its holdings in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, AM Squared Ltd bought a new position in Alphabet during the 4th quarter worth approximately $44,000. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 13,329 shares in the company, valued at approximately $1,745,432.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the sale, the director now directly owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of the business’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 completion of the transaction, the director now directly owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The disclosure for this sale can be found here. Insiders sold 841,501 shares of company stock worth $29,365,352 in the last quarter. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Roth Mkm lifted their target price on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Bank of America upped their target price on Alphabet from $142.00 to $146.00 in a research note on Wednesday, July 26th. Royal Bank of Canada boosted their price objective on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Finally, Oppenheimer upped their price target on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.19.

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $132.72 on Tuesday. The business’s 50 day moving average is $122.81 and its 200 day moving average is $109.15. The company has a market capitalization of $1.69 trillion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $133.74. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 EPS. Research analysts expect that Alphabet Inc. will post 5.62 earnings per share for the current fiscal year.

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.

BlackDiamond Wealth Management Inc. Sells 384 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Insider Buying and Selling at Alphabet

Analyst Ratings Changes

Alphabet Stock Up 0.1 %

Alphabet Profile

Further Reading

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