Community Trust & Investment Co. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 380,857 shares of the information services provider’s stock after selling 460 shares during the period. Alphabet makes up about 3.1% of Community Trust & Investment Co.’s holdings, making the stock its 4th largest holding. Community Trust & Investment Co.’s holdings in Alphabet were worth $33,793,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC purchased a new position in shares of Alphabet during the first quarter worth $115,000. Guardian Wealth Management Inc. purchased a new position in shares of Alphabet during the first quarter worth $184,000. Turim 21 Investimentos Ltda. boosted its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. qPULA Trading Management LP purchased a new position in shares of Alphabet during the first quarter worth $279,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after buying an additional 26 shares during the period. 28.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on GOOG. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Cowen reduced their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. UBS Group increased their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Credit Suisse Group set a $136.00 price objective on Alphabet in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $135.24.
Alphabet Stock Down 0.8 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued 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). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 EPS. Equities research analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current year.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,313 shares of the business’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 transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the business’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 transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock worth $11,373,417 in the last quarter. Company insiders own 12.99% of the company’s stock.
Alphabet Company 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.
Read More
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
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