Intellectus Partners LLC Acquires 160 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 8th, 2023

Intellectus Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,960 shares of the information services provider’s stock after buying an additional 160 shares during the period. Alphabet makes up 1.1% of Intellectus Partners LLC’s investment portfolio, making the stock its 14th largest holding. Intellectus Partners LLC’s holdings in Alphabet were worth $3,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp raised its position in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at $8,335,063,000. 35.38% of the stock is currently owned by institutional investors.

Alphabet Stock Up 2.7 %

Shares of NASDAQ GOOGL opened at $131.53 on Tuesday. The business has a 50-day simple moving average of $123.31 and a two-hundred day simple moving average of $110.20. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $133.74. The company has a market cap of $1.66 trillion, a P/E ratio of 27.87, a P/E/G ratio of 1.48 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter last year, the firm posted $1.21 EPS. Research analysts anticipate that Alphabet Inc. will post 5.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. 51job reissued a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Stifel Nicolaus increased their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. TD Cowen increased their price target on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Sanford C. Bernstein increased their price target on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Finally, Roth Mkm upped their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” 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 stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $142.19.

Get Our Latest Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 703,229 shares of company stock valued at $24,002,443 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

About Alphabet

(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.