SFE Investment Counsel Acquires 810 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 19th, 2023

SFE Investment Counsel lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,175 shares of the information services provider’s stock after purchasing an additional 810 shares during the quarter. Alphabet comprises approximately 1.4% of SFE Investment Counsel’s portfolio, making the stock its 25th largest holding. SFE Investment Counsel’s holdings in Alphabet were worth $4,442,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sustainable Insight Capital Management LLC increased its holdings in shares of Alphabet by 51.6% in the first quarter. Sustainable Insight Capital Management LLC now owns 7,640 shares of the information services provider’s stock worth $792,000 after purchasing an additional 2,600 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in shares of Alphabet by 21.2% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,881,927 shares of the information services provider’s stock worth $188,826,000 after purchasing an additional 329,176 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Alphabet by 10.6% in the first quarter. Russell Investments Group Ltd. now owns 5,768,681 shares of the information services provider’s stock worth $595,698,000 after purchasing an additional 551,939 shares during the period. TBH Global Asset Management LLC increased its holdings in shares of Alphabet by 13.7% in the first quarter. TBH Global Asset Management LLC now owns 41,952 shares of the information services provider’s stock worth $4,352,000 after purchasing an additional 5,052 shares during the period. Finally, Knuff & Co LLC grew its position in Alphabet by 1.6% in the first quarter. Knuff & Co LLC now owns 11,616 shares of the information services provider’s stock worth $1,205,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total transaction of $227,040.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total transaction of $227,040.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,778 shares of company stock valued at $10,273,372. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $127.46 on Friday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $133.74. The company has a market cap of $1.61 trillion, a P/E ratio of 27.00, a PEG ratio of 1.48 and a beta of 1.06. The firm has a 50-day moving average of $124.49 and a 200 day moving average of $112.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.21 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 5.67 EPS for the current year.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Roth Mkm upped their target price on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Piper Sandler upped their target price on shares of Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. StockNews.com initiated coverage on shares of Alphabet in a research report on Thursday. They issued a “buy” rating for the company. Mizuho upped their target price on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Finally, Morgan Stanley upped their price target on shares of Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Four research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.61.

Check Out Our Latest Stock Report on Alphabet

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.