Precision Wealth Strategies LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 9th, 2023

Precision Wealth Strategies LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 80.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,462 shares of the information services provider’s stock after selling 10,240 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Alphabet were worth $255,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. DC Investments Management LLC bought a new stake in Alphabet during the first quarter valued at approximately $114,000. Bridgefront Capital LLC bought a new position in Alphabet in the first quarter worth approximately $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $206,000. Eudaimonia Advisors LLC grew its position in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $281,000. Institutional investors own 35.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Stifel Nicolaus lifted their target price on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Royal Bank of Canada boosted their price objective on Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Wolfe Research raised their target price on shares of Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Truist Financial lifted their price target on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.19.

Read Our Latest Research Report on Alphabet

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $12.74, for a total transaction of $2,012,308.48. Following the completion of the sale, the insider now directly owns 10,800,973 shares of the company’s stock, valued at approximately $137,604,396.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the business’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 completion of the sale, the senior vice president now directly 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 through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $12.74, for a total transaction of $2,012,308.48. Following the transaction, the insider now directly owns 10,800,973 shares in the company, valued at $137,604,396.02. The disclosure for this sale can be found here. Insiders have sold 615,832 shares of company stock valued at $22,776,264 in the last ninety days. 0.88% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $131.40 on Wednesday. The firm has a market capitalization of $1.66 trillion, a PE ratio of 27.84, a PEG ratio of 1.52 and a beta of 1.06. The stock’s fifty day moving average is $123.44 and its 200 day moving average is $110.47. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week 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.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.64 earnings per share for the current 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.