Moody National Bank Trust Division lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 107,269 shares of the information services provider’s stock after selling 3,128 shares during the period. Alphabet accounts for 0.8% of Moody National Bank Trust Division’s portfolio, making the stock its 8th largest position. Moody National Bank Trust Division’s holdings in Alphabet were worth $9,465,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Willow Creek Wealth Management Inc. boosted its position in shares of Alphabet by 1,926.9% during the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Alphabet during the third quarter worth $55,305,000. Griffin Asset Management Inc. boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in shares of Alphabet by 3,005.0% during the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its position in shares of Alphabet by 1,915.2% during the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock worth $7,174,078 in the last quarter. Corporate insiders own 11.44% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the previous year, the company earned $1.53 EPS. Equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. New Street Research assumed coverage on shares of Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research report on Friday. Tigress Financial cut their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Finally, MKM Partners boosted their price objective on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.44.
Alphabet Profile
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.
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