Walker Asset Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Sep 24th, 2023

Walker Asset Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,714 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Walker Asset Management LLC’s holdings in Alphabet were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new stake in Alphabet in the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet in the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the third quarter worth about $38,000. IAG Wealth Partners LLC boosted its holdings in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Kalos Management Inc. acquired a new stake in Alphabet in the first quarter worth about $48,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Alphabet Stock Down 0.1 %

Shares of GOOGL opened at $130.25 on Friday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $139.16. The company has a market capitalization of $1.64 trillion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The stock has a fifty day simple moving average of $130.97 and a two-hundred day simple moving average of $118.95. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period last year, the company earned $1.21 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOGL shares. Loop Capital raised their price target on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Jefferies Financial Group lifted their target price on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Barclays lifted their target price on Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Mizuho lifted their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $138.00 target price on shares of Alphabet in a report on Wednesday, August 30th. Four 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 stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $143.89.

Read Our Latest Research Report on GOOGL

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $121.42, for a total value of $46,139.60. Following the completion of the sale, the director now directly owns 4,700 shares of the company’s stock, valued at approximately $570,674. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $121.42, for a total transaction of $46,139.60. Following the completion of the transaction, the director now directly owns 4,700 shares in the company, valued at approximately $570,674. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold 96,092 shares of company stock valued at $12,221,941 in the last three months. 0.88% of the stock is currently owned by insiders.

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.

Walker Asset Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Stock Down 0.1 %

Analysts Set New Price Targets

Insiders Place Their Bets

Alphabet Company Profile

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