Live Oak Private Wealth LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 16th, 2023

Live Oak Private Wealth LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,162 shares of the information services provider’s stock after buying an additional 1,951 shares during the quarter. Alphabet comprises 1.7% of Live Oak Private Wealth LLC’s holdings, making the stock its 14th largest position. Live Oak Private Wealth LLC’s holdings in Alphabet were worth $8,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. M. Kulyk & Associates LLC raised its stake in Alphabet by 7.8% in the first quarter. M. Kulyk & Associates LLC now owns 72,859 shares of the information services provider’s stock valued at $7,558,000 after buying an additional 5,287 shares during the last quarter. Front Barnett Associates LLC raised its stake in Alphabet by 0.3% in the first quarter. Front Barnett Associates LLC now owns 355,514 shares of the information services provider’s stock valued at $36,877,000 after buying an additional 1,072 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alphabet by 2.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,310,473 shares of the information services provider’s stock worth $447,125,000 after purchasing an additional 122,843 shares during the last quarter. Wulff Hansen & CO. purchased a new position in shares of Alphabet in the first quarter worth about $1,585,000. Finally, Truepoint Inc. raised its stake in shares of Alphabet by 2.8% in the first quarter. Truepoint Inc. now owns 6,807 shares of the information services provider’s stock worth $706,000 after purchasing an additional 187 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of Alphabet stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total value of $1,242,337.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,790 shares of company stock valued at $11,250,754. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. 888 restated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Mizuho raised their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Evercore ISI raised their price objective on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Raymond James raised their price objective on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Finally, StockNews.com began coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.19.

View Our Latest Report on Alphabet

Alphabet Price Performance

NASDAQ:GOOGL opened at $129.78 on Wednesday. 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 company has a market capitalization of $1.64 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.49 and a beta of 1.06. The stock’s fifty day moving average is $124.11 and its two-hundred day moving average is $111.84.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating 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 company 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 business earned $1.21 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.67 EPS 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.