Private Trust Co. NA Has $3.35 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 26th, 2023

Private Trust Co. NA boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,694 shares of the information services provider’s stock after purchasing an additional 369 shares during the period. Private Trust Co. NA’s holdings in Alphabet were worth $3,345,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOG shares. Cowen cut their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Credit Suisse Group set a $136.00 target price on shares of Alphabet in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a report on Thursday, February 9th. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a report on Monday, February 6th. Finally, Raymond James raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $106.06 on Friday. The company’s 50 day simple moving average is $97.08 and its 200 day simple moving average is $96.59. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data 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). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.53 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now owns 144,740 shares of the company’s stock, valued at $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now owns 144,740 shares of the company’s stock, valued at $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 74,245 shares of company stock valued at $7,174,078. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

(Get Rating)

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.