Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Stock Yards Bank & Trust Co.

Posted by Defense World Staff on Apr 27th, 2023

Stock Yards Bank & Trust Co. cut its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 541,575 shares of the information services provider’s stock after selling 5,007 shares during the quarter. Alphabet comprises 1.9% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 12th biggest position. Stock Yards Bank & Trust Co.’s holdings in Alphabet were worth $47,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wall Street Access Asset Management LLC increased its holdings in shares of Alphabet by 1.1% during the fourth quarter. Wall Street Access Asset Management LLC now owns 21,690 shares of the information services provider’s stock valued at $1,914,000 after purchasing an additional 230 shares during the period. Tobam grew its position in Alphabet by 19.9% in the 4th quarter. Tobam now owns 9,403 shares of the information services provider’s stock valued at $830,000 after buying an additional 1,560 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Alphabet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 156,290 shares of the information services provider’s stock valued at $13,789,000 after buying an additional 815 shares during the period. Argent Advisors Inc. raised its position in shares of Alphabet by 6.7% during the 4th quarter. Argent Advisors Inc. now owns 11,389 shares of the information services provider’s stock worth $1,005,000 after buying an additional 719 shares in the last quarter. Finally, Ironwood Investment Counsel LLC lifted its stake in shares of Alphabet by 1.5% in the 4th quarter. Ironwood Investment Counsel LLC now owns 64,832 shares of the information services provider’s stock worth $5,720,000 after acquiring an additional 947 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Roth Mkm boosted their target price on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday. Rosenblatt Securities upped their price objective on Alphabet from $128.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday. Credit Suisse Group cut their price target on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $132.03.

Insider Buying and Selling

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,539 shares of company stock valued at $10,209,164. 11.44% of the stock is owned by company insiders.

Alphabet Trading Down 0.1 %

Alphabet stock opened at $103.71 on Thursday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market capitalization of $1.33 trillion, a PE ratio of 22.79, a PEG ratio of 1.47 and a beta of 1.10. The business’s 50-day simple moving average is $99.70 and its 200-day simple moving average is $96.49.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the previous year, the business posted $1.23 EPS. Equities research analysts forecast that Alphabet Inc. will post 5.08 earnings per share for the current year.

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.