Martin Investment Management LLC Buys 11,273 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 20th, 2023

Martin Investment Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,504 shares of the information services provider’s stock after purchasing an additional 11,273 shares during the period. Alphabet makes up 3.0% of Martin Investment Management LLC’s holdings, making the stock its 9th biggest holding. Martin Investment Management LLC’s holdings in Alphabet were worth $10,322,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOGL. Live Oak Investment Partners purchased a new position in Alphabet during the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. purchased a new position in Alphabet during the third quarter worth about $38,000. IAG Wealth Partners LLC boosted its stake 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 during the period. Finally, AM Squared Ltd acquired a new position in Alphabet during the fourth quarter worth $44,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.9 %

GOOGL opened at $127.46 on Friday. The business has a 50 day moving average price of $124.49 and a two-hundred day moving average price of $112.39. 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 cap of $1.61 trillion, a PE ratio of 27.00, a P/E/G ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $133.74.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the previous year, the company posted $1.21 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 5.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America upped their price target on Alphabet from $142.00 to $146.00 in a research note on Wednesday, July 26th. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Robert W. Baird boosted their price target on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Evercore ISI boosted their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, TD Cowen boosted their price target on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. 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 company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

Read Our Latest Report on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’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 completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the 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 transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of 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. In the last 90 days, insiders have sold 276,778 shares of company stock valued at $10,273,372. 0.88% of the stock is owned by corporate insiders.

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.