Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Abbrea Capital LLC

Posted by on Sep 3rd, 2023

Abbrea Capital LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,305 shares of the information services provider’s stock after selling 1,073 shares during the quarter. Alphabet comprises about 1.8% of Abbrea Capital LLC’s holdings, making the stock its 11th largest position. Abbrea Capital LLC’s holdings in Alphabet were worth $10,820,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC grew its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter valued at about $281,000. Institutional investors and hedge funds own 35.08% 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 on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $135.56, for a total value of $31,178.80. Following the transaction, the director now owns 13,618 shares of the company’s stock, valued at $1,846,056.08. The disclosure for this sale can be found here. Insiders sold a total of 154,043 shares of company stock worth $7,411,558 in the last three months. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the company from $123.00 to $132.00 in a report on Monday, June 26th. Tigress Financial boosted their target price on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. 51job reiterated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Sanford C. Bernstein boosted their target price on Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Finally, Mizuho boosted their target price on Alphabet from $135.00 to $155.00 in a 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.

View Our Latest Report on GOOGL

Alphabet Stock Performance

GOOGL stock opened at $135.66 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.71 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $138.00. The stock’s 50 day simple moving average is $126.30 and its 200 day simple moving average is $114.63.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates 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 company posted $1.21 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.68 EPS for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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