Carlson Capital Management Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Oct 9th, 2023

Carlson Capital Management boosted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,917 shares of the information services provider’s stock after purchasing an additional 1,065 shares during the period. Carlson Capital Management’s holdings in Alphabet were worth $1,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Alphabet by 142.9% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Milestone Wealth LLC lifted its position in shares of Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in Alphabet during the fourth quarter valued at $48,000. GW&K Investment Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $50,000. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Alphabet in the second quarter valued at $50,000. 27.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares in the company, valued at approximately $10,119,602.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 220 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the sale, the director now owns 4,759 shares in the company, valued at approximately $579,408.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,091 shares of company stock valued at $13,527,476. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOG shares. Oppenheimer increased their price target on Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Susquehanna lifted their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird lifted their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Wedbush started coverage on Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating for the company. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $130.94.

View Our Latest Analysis on Alphabet

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $138.73 on Monday. The business’s 50 day moving average price is $133.39 and its 200 day moving average price is $122.45. The firm has a market cap of $1.75 trillion, a P/E ratio of 29.39, a P/E/G ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $139.93. 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:GOOG – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating 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 firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Alphabet’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current 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.