Private Trust Co. NA lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,321 shares of the information services provider’s stock after purchasing an additional 2,627 shares during the quarter. Alphabet comprises about 0.6% of Private Trust Co. NA’s investment portfolio, making the stock its 29th biggest position. Private Trust Co. NA’s holdings in Alphabet were worth $4,193,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in GOOG. Totem Point Management LLC increased its holdings in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F boosted its position in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. boosted its position in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its position in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after buying an additional 214 shares during the period. 27.17% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The disclosure for this sale can be found here. Insiders have sold a total of 877,364 shares of company stock valued at $30,371,135 in the last ninety days. Company insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
GOOG has been the subject of several recent analyst reports. UBS Group boosted their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Oppenheimer lowered their price target on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Raymond James boosted their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price target on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird boosted their price target on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.80.
Alphabet Company Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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