Trust Co. of Oklahoma lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,101 shares of the information services provider’s stock after selling 1,199 shares during the period. Alphabet comprises about 1.4% of Trust Co. of Oklahoma’s portfolio, making the stock its 18th largest holding. Trust Co. of Oklahoma’s holdings in Alphabet were worth $3,450,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC raised its stake in shares of Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC raised its position in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares in the last quarter. Laurel Wealth Planning LLC lifted its stake in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares during the period. Finally, Horizons Wealth Management acquired a new position in shares of Alphabet during the 2nd quarter worth about $33,000. Institutional investors own 34.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on GOOGL shares. Loop Capital raised their target price on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Evercore ISI cut their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. New Street Research initiated coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price on the stock. Bank of America lifted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Finally, Morgan Stanley increased their price objective on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.83.
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 the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period last year, the business posted $1.53 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 73,865 shares of company stock valued at $7,140,167 in the last three months. 11.44% of the stock is owned by insiders.
About Alphabet
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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