First Citizens Bank & Trust Co. Purchases 3,341 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 5th, 2023

First Citizens Bank & Trust Co. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,903 shares of the information services provider’s stock after acquiring an additional 3,341 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Alphabet were worth $7,622,000 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 the company. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC lifted its holdings in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% in 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. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares during the last quarter. 28.69% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of the firm’s 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 sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.2 %

Alphabet stock opened at $105.12 on Wednesday. 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 Inc. has a 52-week low of $83.45 and a 52-week high of $143.59. The firm has a 50 day moving average price of $98.11 and a two-hundred day moving average price of $96.28. The firm has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.44 and a beta of 1.10.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. During the same quarter in the previous year, the business posted $1.53 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 5.11 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. UBS Group set a $120.00 target price on shares of Alphabet in a report on Monday, February 6th. Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a report on Friday, February 3rd. Credit Suisse Group set a $136.00 target price on shares of Alphabet in a report on Friday, February 3rd. Finally, Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a report on Monday, February 6th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

About Alphabet

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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.