5,900 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Qsemble Capital Management LP

Posted by Defense World Staff on May 22nd, 2023

Qsemble Capital Management LP bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,900 shares of the information services provider’s stock, valued at approximately $521,000.

A number of other institutional investors have also added to or reduced their stakes in the company. RiverGlades Family Offices LLC acquired a new position in Alphabet during the fourth quarter worth $508,000. Elequin Securities LLC acquired a new position in shares of Alphabet in the fourth quarter valued at $85,000. Bank of Nova Scotia increased its holdings in shares of Alphabet by 32.3% in the fourth quarter. Bank of Nova Scotia now owns 1,581,965 shares of the information services provider’s stock valued at $139,588,000 after purchasing an additional 385,773 shares during the last quarter. Saturna Capital CORP increased its holdings in shares of Alphabet by 9.2% in the fourth quarter. Saturna Capital CORP now owns 730,890 shares of the information services provider’s stock valued at $64,486,000 after purchasing an additional 61,565 shares during the last quarter. Finally, Community Bank & Trust Waco Texas increased its holdings in shares of Alphabet by 1.6% in the fourth quarter. Community Bank & Trust Waco Texas now owns 43,461 shares of the information services provider’s stock valued at $3,835,000 after purchasing an additional 680 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. In the last three months, insiders have purchased 732,217 shares of company stock worth $21,135,371 and have sold 601,450 shares worth $28,354,856. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Loop Capital downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a report on Monday, May 15th. StockNews.com started coverage on shares of Alphabet in a research report on Thursday. They issued a “buy” rating for the company. Sanford C. Bernstein reduced their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. MKM Partners boosted their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Alphabet Price Performance

Shares of GOOGL opened at $122.76 on Monday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $125.97. The business’s fifty day moving average is $106.43 and its 200 day moving average is $98.26. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.56 trillion, a P/E ratio of 27.34, a P/E/G ratio of 1.56 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period last year, the business earned $1.23 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.