ESA Global Value Fund Sells 186,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 25th, 2023

ESA Global Value Fund trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 50.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,201 shares of the information services provider’s stock after selling 186,000 shares during the quarter. Alphabet accounts for approximately 39.7% of ESA Global Value Fund’s portfolio, making the stock its largest holding. ESA Global Value Fund’s holdings in Alphabet were worth $18,796,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. Live Oak Investment Partners purchased a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $38,000. IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares during the period. Finally, AM Squared Ltd purchased a new stake in shares of Alphabet during the 4th quarter valued at about $44,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $123.73, for a total transaction of $29,695.20. Following the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $123.73, for a total value of $29,695.20. Following the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 9,540 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $125.33, for a total value of $1,195,648.20. Following the completion of the sale, the director now directly owns 2,800 shares in the company, valued at approximately $350,924. The disclosure for this sale can be found here. Insiders have sold 180,006 shares of company stock valued at $8,804,132 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Down 2.0 %

Shares of Alphabet stock opened at $129.78 on Friday. The business’s fifty day moving average price is $124.96 and its two-hundred day moving average price is $113.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The company has a market capitalization of $1.64 trillion, a P/E ratio of 27.50, a PEG ratio of 1.49 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $134.25.

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 firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.21 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. KeyCorp raised their target price on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Rosenblatt Securities raised their target price on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. 51job restated a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. TD Cowen raised their price objective on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, Bank of America raised their price objective on Alphabet from $142.00 to $146.00 in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.08.

Read Our Latest Stock Analysis 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.