Central Bank & Trust Co. Has $10.47 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 28th, 2023

Central Bank & Trust Co. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,654 shares of the information services provider’s stock after selling 972 shares during the period. Alphabet accounts for 2.0% of Central Bank & Trust Co.’s portfolio, making the stock its 9th biggest holding. Central Bank & Trust Co.’s holdings in Alphabet were worth $10,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Bornite Capital Management LP bought a new position in Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp lifted its holdings in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank lifted its holdings in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its holdings in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,865 shares of company stock worth $7,140,167. Insiders own 11.44% of the company’s stock.

Alphabet Trading Down 2.8 %

NASDAQ:GOOGL opened at $102.46 on Tuesday. The stock’s 50 day moving average price is $96.67 and its 200 day moving average price is $95.90. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a market capitalization of $1.31 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.46 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 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 firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the prior year, the company posted $1.53 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Tigress Financial cut their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Loop Capital upped their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 price target on shares of Alphabet in a report on Friday, February 10th. Morgan Stanley upped their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.83.

Alphabet Company Profile

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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.