First Bank & Trust cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,475 shares of the information services provider’s stock after selling 364 shares during the quarter. First Bank & Trust’s holdings in Alphabet were worth $983,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GOOGL. FourThought Financial Partners LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $5,415,000. Glenview Trust Co raised 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 raised 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. Marcum Wealth LLC raised its stake in Alphabet by 4.8% in the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after buying an additional 927 shares during the period. Finally, Ibex Investors LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $2,617,000. 35.38% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 841,688 shares of company stock worth $29,376,932. Insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations 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 business posted $1.23 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Raymond James increased their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. The Goldman Sachs Group lifted their target price on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI lifted their target price on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $123.00 to $132.00 in a report on Monday, June 26th. Finally, Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.92.
Alphabet Company 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.
Featured Articles
- Five stocks we like better than Alphabet
- Is It Time To Take Another Bite Of Chewy, Inc?
- GreenPower Motor Company Shifts Into High Gear
- Is the Microsoft Deal Driving Applied Optoelectronics 300% Gain?
- Can Unity Software Sustain The Momentum?
- Nvidia Invested $50 million into This AI Drug Discovery Biotech
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
