Bordeaux Wealth Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by MarketBeat News on Aug 1st, 2022

Bordeaux Wealth Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 14.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 771 shares of the information services provider’s stock after purchasing an additional 98 shares during the quarter. Alphabet comprises about 1.2% of Bordeaux Wealth Advisors LLC’s holdings, making the stock its 21st biggest position. Bordeaux Wealth Advisors LLC’s holdings in Alphabet were worth $2,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Affinity Capital Advisors LLC increased its position in shares of Alphabet by 1.3% during the 4th quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider’s stock worth $898,000 after purchasing an additional 4 shares in the last quarter. Summit Financial Strategies Inc. increased its position in shares of Alphabet by 1.3% during the 4th quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock worth $933,000 after purchasing an additional 4 shares in the last quarter. Palisades Hudson Asset Management L.P. increased its position in shares of Alphabet by 1.1% during the 4th quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock worth $1,046,000 after purchasing an additional 4 shares in the last quarter. AFT Forsyth & Company Inc. increased its position in shares of Alphabet by 0.3% during the 4th quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock worth $3,427,000 after purchasing an additional 4 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC increased its position in shares of Alphabet by 6.8% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock worth $175,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $116.32 on Monday. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $154.46 and its 200-day moving average is $138.72. The company has a market capitalization of $1.53 trillion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the prior year, the firm earned $27.26 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.37 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the completion of the transaction, the director now directly owns 265 shares of the company’s stock, valued at $604,459.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,269 shares of company stock valued at $12,792,226. 11.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Morgan Stanley increased their target price on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. StockNews.com lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Wedbush decreased their price objective on shares of Alphabet from $190.00 to $155.65 in a report on Wednesday, April 27th. Credit Suisse Group decreased their price objective on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, BMO Capital Markets decreased their price objective on shares of Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.29.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.