Greenfield Savings Bank cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,480 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet comprises about 1.2% of Greenfield Savings Bank’s investment portfolio, making the stock its 25th biggest position. Greenfield Savings Bank’s holdings in Alphabet were worth $1,813,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. FourThought Financial Partners LLC bought a new stake in Alphabet during the fourth quarter valued at about $5,415,000. Glenview Trust Co raised its holdings in Alphabet by 10.7% during the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after acquiring an additional 44,278 shares during the period. Bfsg LLC raised its holdings in Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after acquiring an additional 4,975 shares during the period. Ibex Investors LLC bought a new stake in Alphabet during the fourth quarter valued at about $2,617,000. Finally, Arjuna Capital raised its holdings in Alphabet by 2.8% during the fourth quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after acquiring an additional 3,427 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now directly owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the transaction, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction 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. Over the last three months, insiders have sold 854,930 shares of company stock valued at $29,996,488. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – 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. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the prior year, the firm posted $1.23 earnings per share. Analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Wolfe Research raised their price target on Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Oppenheimer raised their price target on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Credit Suisse Group reduced their target price on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Finally, Citigroup lifted their target price on Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.67.
Alphabet 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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