Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by Bank of The West

Posted by on Apr 23rd, 2023

Bank of The West trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,991 shares of the information services provider’s stock after selling 27,102 shares during the period. Alphabet makes up about 2.8% of Bank of The West’s holdings, making the stock its 3rd biggest position. Bank of The West’s holdings in Alphabet were worth $23,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. VitalStone Financial LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $25,000. IAG Wealth Partners LLC boosted its position 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 boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Finally, Coston McIsaac & Partners boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of NASDAQ:GOOGL opened at $105.41 on Friday. The stock has a market capitalization of $1.35 trillion, a P/E ratio of 23.16, a PEG ratio of 1.46 and a beta of 1.10. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $125.40. The stock has a 50-day simple moving average of $99.15 and a 200-day simple moving average of $96.44. 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 results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the company earned $1.53 EPS. Equities analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America boosted their target price 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. New Street Research started coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Morgan Stanley lifted their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Finally, BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a research note on Friday, March 17th. Four investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.30.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 in the last three months. Corporate insiders own 11.44% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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