Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Anchor Capital Advisors LLC

Posted by Defense World Staff on Aug 5th, 2023

Anchor Capital Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the information services provider’s stock after selling 240 shares during the period. Anchor Capital Advisors LLC’s holdings in Alphabet were worth $830,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOOGL. Live Oak Investment Partners purchased a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the fourth quarter worth approximately $34,000. Turim 21 Investimentos Ltda. purchased a new position in Alphabet during the third quarter worth approximately $38,000. IAG Wealth Partners LLC lifted its position in Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in Alphabet during the fourth quarter worth approximately $44,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $128.11 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The business has a fifty day moving average of $123.31 and a two-hundred day moving average of $109.94. The company has a market cap of $1.63 trillion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. As a group, analysts predict that Alphabet Inc. will post 5.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders sold 804,001 shares of company stock worth $25,426,352 in the last 90 days. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Rosenblatt Securities lifted their price objective on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird lifted their price objective on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Bank of America lifted their price objective on Alphabet from $142.00 to $146.00 in a research report on Wednesday, July 26th. Evercore ISI raised their target price on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, Piper Sandler raised their target price on Alphabet from $140.00 to $148.00 in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.19.

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.