Community Trust & Investment Co. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 10.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 421,745 shares of the information services provider’s stock after buying an additional 40,888 shares during the period. Alphabet accounts for approximately 3.8% of Community Trust & Investment Co.’s portfolio, making the stock its 4th largest holding. Community Trust & Investment Co.’s holdings in Alphabet were worth $43,861,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Alphabet by 1,885.5% during the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares during the period. BlackRock Inc. raised its stake in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares during the period. State Street Corp raised its stake in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its stake in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Alphabet Price Performance
Shares of GOOG stock opened at $120.97 on Friday. The firm has a market cap of $1.54 trillion, a P/E ratio of 26.94, a P/E/G ratio of 1.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. The firm has a fifty day moving average of $118.76 and a two-hundred day moving average of $104.58.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the transaction, the director now directly owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold a total of 848,978 shares of company stock valued at $27,492,109 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
GOOG has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their target price on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Oppenheimer cut their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, UBS Group raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.80.
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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