Marble Harbor Investment Counsel LLC Buys 5,250 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 25th, 2023

Marble Harbor Investment Counsel LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 30.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,370 shares of the information services provider’s stock after buying an additional 5,250 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Alphabet were worth $2,320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Spreng Capital Management Inc. increased its holdings in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. increased its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. Evercore ISI lifted their target price on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Citigroup lifted their target price on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein lifted their target price on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Finally, 888 reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $143.08.

Read Our Latest Research Report on GOOGL

Alphabet Stock Performance

NASDAQ:GOOGL opened at $129.78 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $134.25. The firm has a market cap of $1.64 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.49 and a beta of 1.06. The business’s fifty day moving average is $124.96 and its 200 day moving average is $113.04.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (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 analyst estimates of $60.24 billion. During the same period in the previous year, the company posted $1.21 EPS. Research analysts predict that Alphabet Inc. will post 5.67 EPS for the current year.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total value of $563,319.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,006 shares of company stock worth $8,804,132. 0.88% of the stock is owned by company 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.