Maj Invest Holding A S Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 3rd, 2023

Maj Invest Holding A S cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,848,025 shares of the information services provider’s stock after selling 488,338 shares during the period. Alphabet accounts for 5.0% of Maj Invest Holding A S’s portfolio, making the stock its 12th biggest position. Maj Invest Holding A S’s holdings in Alphabet were worth $191,695,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Aspire Private Capital LLC grew its stake in Alphabet by 26.4% in the first quarter. Aspire Private Capital LLC now owns 15,038 shares of the information services provider’s stock worth $1,560,000 after purchasing an additional 3,145 shares during the period. Tobam grew its stake in Alphabet by 32.6% in the first quarter. Tobam now owns 12,469 shares of the information services provider’s stock worth $1,293,000 after purchasing an additional 3,066 shares during the period. MTM Investment Management LLC grew its stake in Alphabet by 5.1% in the first quarter. MTM Investment Management LLC now owns 3,070 shares of the information services provider’s stock worth $318,000 after purchasing an additional 150 shares during the period. Flynn Zito Capital Management LLC grew its stake in Alphabet by 6.6% in the first quarter. Flynn Zito Capital Management LLC now owns 3,559 shares of the information services provider’s stock worth $369,000 after purchasing an additional 219 shares during the period. Finally, WealthTrust Axiom LLC grew its stake in Alphabet by 9.0% in the first quarter. WealthTrust Axiom LLC now owns 3,400 shares of the information services provider’s stock worth $353,000 after purchasing an additional 280 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 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 SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The disclosure for this sale can be found here. In the last 90 days, insiders sold 841,501 shares of company stock worth $29,365,352. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $128.38 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $133.74. The stock’s 50 day simple moving average is $123.14 and its two-hundred day simple moving average is $109.56. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.58 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $60.24 billion. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 5.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. KeyCorp boosted their target price on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Oppenheimer boosted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Bank of America boosted their target price on Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. 51job reissued a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Finally, Tigress Financial boosted their target price on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.19.

Read Our Latest Analysis on Alphabet

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.