First Western Trust Bank reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,876 shares of the information services provider’s stock after selling 1,937 shares during the quarter. First Western Trust Bank’s holdings in Alphabet were worth $1,679,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Bank Julius Baer & Co. Ltd Zurich grew its stake in Alphabet by 94,153.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock worth $24,261,537,000 after buying an additional 200,345,509 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after acquiring an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after acquiring an additional 54,077,519 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth about $3,059,614,000. Finally, GQG Partners LLC bought a new position in shares of Alphabet in the first quarter worth about $2,170,024,000. 27.13% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush assumed coverage on shares of Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Susquehanna lifted their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $130.69.
Alphabet Stock Up 0.7 %
Alphabet stock traded up $0.94 on Monday, hitting $137.88. 9,554,999 shares of the stock traded hands, compared to its average volume of 25,870,496. Alphabet Inc. has a 1 year low of $85.57 and a 1 year high of $142.38. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $134.60 and its 200 day simple moving average is $128.47. The firm has a market cap of $1.73 trillion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the sale, the director now directly owns 14,226 shares in the company, valued at $1,769,145.36. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 in the last quarter. 12.99% of the stock is owned by insiders.
Alphabet Company Profile
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.
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