Alphabet Inc. (NASDAQ:GOOGL) is PYA Waltman Capital LLC’s 10th Largest Position

Posted by Defense World Staff on Aug 23rd, 2023

PYA Waltman Capital LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.6% in the first quarter, Holdings Channel.com reports. The fund owned 63,794 shares of the information services provider’s stock after acquiring an additional 2,211 shares during the quarter. Alphabet comprises 3.3% of PYA Waltman Capital LLC’s portfolio, making the stock its 10th biggest holding. PYA Waltman Capital LLC’s holdings in Alphabet were worth $6,617,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. raised its position in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp raised its position in Alphabet by 1,900.6% during 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 purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Alphabet by 111,197.8% during 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 purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Alphabet by 1,759.2% during 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 purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank bought a new stake in Alphabet during the 4th quarter valued at $8,335,063,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,956 shares of company stock valued at $8,923,120. 0.88% of the stock is owned by company insiders.

Alphabet Stock Up 0.6 %

Shares of GOOGL opened at $129.08 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 $1.63 trillion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.47 and a beta of 1.06. The stock’s 50-day moving average price is $124.69 and its 200-day moving average price is $112.79.

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, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 5.67 EPS for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Stifel Nicolaus boosted their price target on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Credit Suisse Group boosted their price target on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Truist Financial boosted their price target on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Finally, TD Cowen boosted their price target on Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.08.

Read Our Latest Stock Analysis on GOOGL

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.