Skba Capital Management LLC Invests $247,000 in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Sep 1st, 2023

Skba Capital Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,380 shares of the information services provider’s stock, valued at approximately $247,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp lifted its position in shares of 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 worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of 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 worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Geode Capital Management LLC lifted its position in shares of Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after buying an additional 1,923,667 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $11,106,502,000 after buying an additional 109,870,525 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Stock Up 0.2 %

GOOGL stock opened at $136.17 on Friday. 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 stock has a market capitalization of $1.72 trillion, a P/E ratio of 28.85, a P/E/G ratio of 1.51 and a beta of 1.06. The business has a 50-day moving average of $126.03 and a 200-day moving average of $114.21. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $138.00.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $1.21 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 51job reiterated a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. TD Cowen lifted their price objective on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Bank of America lifted their price objective on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial lifted their price objective on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Finally, Piper Sandler lifted their price objective on Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Four equities research 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. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $143.89.

Get Our Latest Report on GOOGL

Insider Transactions at Alphabet

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 transaction of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were 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 in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders sold 153,813 shares of company stock valued at $7,380,379 over the last three months. Company insiders own 0.88% of the company’s stock.

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.