Iowa State Bank reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,290 shares of the information services provider’s stock after selling 1,862 shares during the quarter. Alphabet comprises about 1.3% of Iowa State Bank’s portfolio, making the stock its 23rd biggest position. Iowa State Bank’s holdings in Alphabet were worth $5,217,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Vanguard Group Inc. raised its position in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp raised 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 worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Alphabet by 111,197.8% during 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 buying an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock valued at $10,310,795,000 after buying an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. 35.38% of the stock is owned by institutional investors.
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 240 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total value of $29,695.20. Following the completion of the sale, the director now owns 12,800 shares in the company, valued at approximately $1,583,744. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’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 transaction, the director now owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. Insiders have sold a total of 841,688 shares of company stock worth $29,376,932 over the last quarter. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping 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 analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently commented on GOOGL shares. 888 reissued a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Morgan Stanley raised their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Wells Fargo & Company started coverage on Alphabet in a research report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 target price on the stock. Robert W. Baird raised their price target on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, 51job restated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Seven investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.53.
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.
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