September 25, 2023
Affinity Capital Advisors LLC Increases Stake in Alphabet Inc. (NASDAQ: GOOG)
According to the most recent 13F filing with the Securities and Exchange Commission, Affinity Capital Advisors LLC has raised its stake in Alphabet Inc. (NASDAQ: GOOG) by 16.6% during the second quarter. The institutional investor now owns 7,341 shares of the information services provider’s stock, an increase of 1,044 shares from the previous quarter. At the end of the reporting period, Affinity Capital Advisors LLC’s holdings were valued at $888,000.
This move by Affinity Capital Advisors LLC indicates a growing confidence in Alphabet Inc., one of the world’s leading technology companies. As a prominent player in various sectors such as online search, advertising technology, and cloud computing, Alphabet continues to attract investment from institutional investors such as Affinity Capital Advisors LLC.
In related news within Alphabet Inc., Director Ann Mather recently sold 380 shares of the company’s stock on June 26th. This transaction took place at an average price of $121.42 per share, resulting in a total value of $46,139.60. Following this sale, Director Mather now holds 4,700 shares worth $570,674.
Director John L. Hennessy also made a sale of 200 shares on September 11th at an average price of $137.30 per share with a total value of $27,460.00. After completing this transaction, Director Hennessy currently possesses 7,584 shares valued at $1,041,283.20.
These insider transactions provide insight into the actions taken by members within Alphabet’s board of directors regarding their personal holdings within the company’s stock.
It is worth noting that insiders within Alphabet have also been actively selling their shares over the past quarter. In total, they have sold 96,092 shares of company stock with a cumulative value of $12,221,941. This represents approximately 12.99% of the company’s outstanding shares.
For investors and analysts following Alphabet closely, these insider transactions offer valuable information about the sentiments and actions of those closely involved with the company’s operations.
As always, it is essential to refer to official filings with the Securities and Exchange Commission for a comprehensive understanding of these transactions. The details can be accessed through the SEC website or via this hyperlink.
Disclaimer: The above article is solely for informational purposes and should not be considered as investment advice.
Updated on: 03/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
3:00 PM (UTC)
Date:03 December, 2023
|Analyst / firm||Rating|
Loop Capital Markets
Affinity Capital Advisors LLC Increases Stake in Alphabet Inc. (NASDAQ: GOOG), Reflecting Growing Confidence in the Technology Giant
On September 25, 2023, it was reported that several hedge funds and institutional investors had recently engaged in buying and selling shares of Alphabet, the parent company of Google. Financial Advisors Network Inc., for example, increased its holdings in Alphabet by 4.5% during the first quarter. This particular firm now owns 161 shares of Alphabet’s stock valued at $450,000 after acquiring an additional 7 shares in the last quarter.
Turim 21 Investimentos Ltda. also demonstrated an increase in stake by 10.8% during the first quarter. Currently, they hold 82 shares of Alphabet’s information services provider stock worth $229,000 after purchasing an additional 8 shares in the last quarter.
West Michigan Advisors LLC experienced a smaller bump in their stake by lifting it by 3.7% during the first quarter. The firm’s current holdings amount to 252 shares of Alphabet’s information services provider stock worth $704,000 after purchasing an additional 9 shares in the same period.
Likewise, Somerville Kurt F raised their stake in Alphabet by 10.3% during the first quarter and now holds 118 shares worth $330,000 after acquiring an additional 11 shares.
Finally, Stonebridge Capital Advisors LLC made a modest increase in their holdings by lifting their stake by 1.4% during the same period. They currently own 1,182 shares worth $3,301,000 after purchasing an additional 16 shares.
Overall, it was estimated that approximately 27.13% of Alphabet’s stock is owned by hedge funds and other institutional investors.
In addition to this investment activity, a number of research analysts have provided their input on GOOG (Alphabet’s ticker symbol). Robert W. Baird raised their target price for Alphabet’s shares from $123 to $140 in a research note published on July 26th. Susquehanna also bumped up the target price, going from $120 to $150, while Wedbush provided coverage on Alphabet and issued an “outperform” rating on the stock.
Oppenheimer, another research firm, lifted their price target for Alphabet shares from $145 to $160. Altogether, thirteen analysts have given the stock a buy rating, as reported by Bloomberg.com. Currently, Alphabet has a consensus rating of “Buy” with a consensus price target of $130.94.
On Friday, NASDAQ GOOG opened at $131.25 per share. With a market capitalization of $1.65 trillion and a P/E ratio of 27.81, Alphabet continues to be a significant player in the technology industry. The company’s PEG ratio stands at 1.51, indicating that it may be slightly overvalued considering its projected growth rate.
Alphabet boasts a beta of 1.06 which suggests that it is marginally more volatile than the broader market index. However, its financial stability is exemplified by its quick ratio of 2.14 and current ratio of 2.17. Moreover, with a debt-to-equity ratio of only 0.05, Alphabet demonstrates prudent financial management.
The company has experienced significant growth in recent years with its stock trading between a 52-week low of $83.45 and a high of $139.93.
In terms of financial performance, Alphabet last reported its earnings results on July 25th, 2023—announcing an EPS (earnings per share) of $1.44 for the quarter. This surpassed analysts’ consensus estimates by $0.12 per share.
Alphabet’s revenue for the quarter amounted to an impressive $74.60 billion—an increase compared to analyst estimates of $72.85 billion—indicating strong performance across various sectors within the company.
Notably, Alphabet achieved a return on equity of 23.49% and a net margin of 21.05%, reflecting its ability to generate profits and produce sustainable growth.
When compared to the same quarter of the previous fiscal year, Alphabet’s quarterly revenue was up by 7.1%. During that prior year quarter, the company had earned $1.21 per share.
Looking ahead, research analysts are predicting that Alphabet Inc. will post an EPS of approximately 5.68 for the current year, underlining their confidence in the company’s future performance.
As Alphabet continues to thrive within the technology sector, investors and analysts alike are closely monitoring its progress in order to identify potential opportunities for growth and capital market gain.