Simmons Bank decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,510 shares of the information services provider’s stock after selling 6,733 shares during the quarter. Simmons Bank’s holdings in Alphabet were worth $8,427,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Arcadia Investment Management Corp MI lifted its position in shares of Alphabet by 2.5% during the 4th quarter. Arcadia Investment Management Corp MI now owns 94,223 shares of the information services provider’s stock valued at $8,313,000 after buying an additional 2,335 shares during the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in shares of Alphabet during the 4th quarter valued at $591,000. Prospera Financial Services Inc lifted its position in shares of Alphabet by 0.3% during the 4th quarter. Prospera Financial Services Inc now owns 102,675 shares of the information services provider’s stock valued at $9,059,000 after buying an additional 347 shares during the last quarter. Retirement Income Solutions Inc lifted its position in shares of Alphabet by 75.8% during the 4th quarter. Retirement Income Solutions Inc now owns 6,960 shares of the information services provider’s stock valued at $614,000 after buying an additional 3,000 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Alphabet by 83.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 177,920 shares of the information services provider’s stock valued at $15,698,000 after buying an additional 81,119 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on GOOGL shares. UBS Group upped their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Credit Suisse Group cut their target price on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, April 26th. Roth Mkm upped their price target on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Bank of America raised their price objective on shares of Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Finally, Piper Sandler upped their target price on shares of Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.06.
Alphabet Stock Up 0.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Analysts predict that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following 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. In the last three months, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 326,208 shares valued at $16,803,119. 11.44% of the stock is owned by corporate insiders.
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.
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