Private Trust Co. NA boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,853 shares of the information services provider’s stock after acquiring an additional 4,083 shares during the period. Alphabet accounts for 1.1% of Private Trust Co. NA’s investment portfolio, making the stock its 6th largest holding. Private Trust Co. NA’s holdings in Alphabet were worth $8,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in GOOGL. FourThought Financial Partners LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $5,415,000. Glenview Trust Co lifted its stake in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after buying an additional 44,278 shares during the period. Bfsg LLC lifted its stake in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after buying an additional 4,975 shares during the period. Ibex Investors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $2,617,000. Finally, Arjuna Capital lifted its stake in Alphabet by 2.8% in the fourth quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after buying an additional 3,427 shares during the period. 35.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. Oppenheimer boosted their price target on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Raymond James upped their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Morgan Stanley upped their target price on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Finally, Stifel Nicolaus assumed coverage on Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.
Alphabet Trading Down 0.7 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its 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 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter last year, the company earned $1.23 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.41 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 7,286 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was purchased at an average price of $26.98 per share, for a total transaction of $196,576.28. Following the transaction, the insider now owns 2,647,312 shares in the company, valued at approximately $71,424,477.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the sale, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The disclosure for this sale can be found here. Insiders sold a total of 854,930 shares of company stock worth $29,996,488 in the last quarter. 0.88% of the stock is owned by company insiders.
About Alphabet
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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