Villere ST Denis J & Co. LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Oct 2nd, 2023

Villere ST Denis J & Co. LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 151.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,790 shares of the information services provider’s stock after purchasing an additional 3,490 shares during the period. Villere ST Denis J & Co. LLC’s holdings in Alphabet were worth $693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its position in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Buying and Selling

In other news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $130.85, for a total value of $31,404.00. Following the completion of the sale, the director now directly owns 13,917 shares in the company, valued at $1,821,039.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frances Arnold sold 240 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total transaction of $31,404.00. Following the completion of the sale, the director now owns 13,917 shares in the company, valued at approximately $1,821,039.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,648 shares of company stock worth $14,945,452. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Jefferies Financial Group increased their target price on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Royal Bank of Canada increased their target price on Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Wells Fargo & Company increased their target price on Alphabet from $116.00 to $121.00 in a research note on Wednesday, July 26th. Finally, Bank of America increased their target price on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.89.

View Our Latest Stock Report on GOOGL

Alphabet Stock Down 1.1 %

Shares of Alphabet stock opened at $130.86 on Monday. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $139.16. The stock has a 50-day simple moving average of $131.84 and a 200-day simple moving average of $120.64.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced 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 during 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 previous year, the company earned $1.21 EPS. On average, equities research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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