Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Moody National Bank Trust Division

Posted by on Jul 6th, 2023

Moody National Bank Trust Division increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,075 shares of the information services provider’s stock after buying an additional 806 shares during the quarter. Alphabet comprises 1.0% of Moody National Bank Trust Division’s portfolio, making the stock its 8th largest position. Moody National Bank Trust Division’s holdings in Alphabet were worth $11,211,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. VitalStone Financial LLC acquired a new stake in Alphabet during the 4th quarter valued at approximately $25,000. Live Oak Investment Partners bought a new position in Alphabet during the 4th quarter worth approximately $26,000. McElhenny Sheffield Capital Management LLC bought a new position in Alphabet during the 4th quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet during the 4th quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in Alphabet during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOGL shares. Royal Bank of Canada increased their target price on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Bank of America increased their target price on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Truist Financial increased their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Raymond James raised their price target on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Jefferies Financial Group raised their price target on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Seven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $129.54.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 810,248 shares of company stock valued at $25,702,475. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $121.75 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.53 and a beta of 1.06. The stock’s fifty day simple moving average is $119.05 and its 200 day simple moving average is $104.62. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04.

Alphabet (NASDAQ:GOOGL – Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.23 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Alphabet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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