Alphabet Inc. (NASDAQ:GOOG) Major Shareholder Sells $107,914.00 in Stock

Posted by Faye Duncan on May 26th, 2023

Alphabet Inc. (NASDAQ:GOOG – Get Rating) major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $13.66, for a total transaction of $107,914.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

2019 Gp L.L.C. Gv also recently made the following trade(s):

On Monday, May 22nd, 2019 Gp L.L.C. Gv sold 87,922 shares of Alphabet stock. The stock was sold at an average price of $14.13, for a total transaction of $1,242,337.86.
On Friday, May 19th, 2019 Gp L.L.C. Gv sold 63,212 shares of Alphabet stock. The stock was sold at an average price of $13.88, for a total transaction of $877,382.56.
On Wednesday, May 17th, 2019 Gp L.L.C. Gv sold 15,000 shares of Alphabet stock. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00.
On Monday, May 15th, 2019 Gp L.L.C. Gv sold 157,952 shares of Alphabet stock. The stock was sold at an average price of $12.74, for a total transaction of $2,012,308.48.
On Friday, May 12th, 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80.
On Wednesday, May 10th, 2019 Gp L.L.C. Gv sold 87,397 shares of Alphabet stock. The stock was sold at an average price of $14.03, for a total transaction of $1,226,179.91.
On Monday, May 8th, 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36.

Alphabet Stock Performance

NASDAQ:GOOG traded up $1.08 during midday trading on Friday, hitting $125.43. The company’s stock had a trading volume of 25,049,228 shares, compared to its average volume of 29,895,625. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $127.05. The firm’s 50 day moving average is $109.26 and its 200-day moving average is $99.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm has a market cap of $1.59 trillion, a P/E ratio of 27.53, a P/E/G ratio of 1.55 and a beta of 1.10.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping 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 analyst estimates of $68.80 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of GOOG. Totem Point Management LLC lifted its position in shares of Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F lifted its position in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. raised its stake in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. raised its stake in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOG shares. Piper Sandler reduced their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Credit Suisse Group set a $136.00 target price on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

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.