Tiemann Investment Advisors LLC Sells 560 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Sep 3rd, 2023

Tiemann Investment Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,515 shares of the information services provider’s stock after selling 560 shares during the period. Alphabet accounts for about 1.3% of Tiemann Investment Advisors LLC’s holdings, making the stock its 11th biggest position. Tiemann Investment Advisors LLC’s holdings in Alphabet were worth $2,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1,919.4% in the third 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 lifted its holdings in shares of Alphabet by 1,900.6% in the third 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 lifted its holdings in shares of Alphabet by 111,197.8% in the fourth 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 lifted its holdings in shares of Alphabet by 1,759.2% in the third 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 position in shares of Alphabet in the fourth quarter valued at approximately $8,335,063,000. Institutional investors own 35.08% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of Alphabet stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $14.98, for a total transaction of $240,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated 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 approximately $721,231. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $14.98, for a total value of $240,144.38. The disclosure for this sale can be found here. Insiders sold a total of 154,043 shares of company stock valued at $7,411,558 over the last 90 days. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $135.66 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $138.00. The business has a 50-day simple moving average of $126.30 and a 200 day simple moving average of $114.63. 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 stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.51 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Susquehanna reiterated a “positive” rating and set a $150.00 price target on shares of Alphabet in a report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $138.00 price target on shares of Alphabet in a report on Wednesday. Credit Suisse Group lifted their price target on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Finally, Wolfe Research lifted their price target on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $143.89.

Check Out Our Latest Research Report on Alphabet

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.