Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Gyroscope Capital Management Group LLC

Posted by Defense World Staff on Aug 5th, 2023

Gyroscope Capital Management Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 82.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,111 shares of the information services provider’s stock after purchasing an additional 11,786 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Alphabet were worth $2,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. DC Investments Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the first quarter worth $225,000. Worth Asset Management LLC acquired a new position in shares of Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC grew its stake in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the first quarter valued at $281,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the sale, the director now directly owns 32,240 shares of the company’s stock, valued at $3,869,122.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the completion of the sale, the director now owns 32,240 shares of the company’s stock, valued at $3,869,122.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $125.00, for a total value of $100,000.00. Following the sale, the director now directly owns 5,940 shares of the company’s stock, valued at approximately $742,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 804,001 shares of company stock worth $25,426,352. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and increased their target price for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. JMP Securities increased their price target on shares of Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 26th. TD Cowen increased their target price on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Finally, Barclays increased their target price on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.

Alphabet Stock Performance

Shares of GOOGL stock opened at $128.11 on Friday. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $133.74. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $123.31 and a 200-day moving average of $109.94.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data 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 net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the firm posted $1.21 EPS. On average, equities analysts forecast that Alphabet Inc. will post 5.64 earnings per share for the current 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.