Hills Bank & Trust Co grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,223 shares of the information services provider’s stock after acquiring an additional 246 shares during the period. Hills Bank & Trust Co’s holdings in Alphabet were worth $334,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its holdings in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at $8,335,063,000. 35.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on GOOGL. 1-800-FLOWERS.COM reiterated a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Evercore ISI increased their price target on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Royal Bank of Canada increased their price target on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Citigroup increased their price target on Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Finally, Credit Suisse Group decreased their price target on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.
Alphabet Trading Up 0.5 %
Alphabet (NASDAQ:GOOGL – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share 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 business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current year.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred 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 approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction 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 approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 826,544 shares of company stock worth $27,117,461. Corporate insiders own 0.88% of the company’s stock.
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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