Intrust Bank NA lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,651 shares of the information services provider’s stock after selling 2,779 shares during the period. Alphabet comprises 0.8% of Intrust Bank NA’s holdings, making the stock its 18th largest position. Intrust Bank NA’s holdings in Alphabet were worth $5,980,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Live Oak Investment Partners bought a new stake in shares of Alphabet in the fourth quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the third quarter worth $38,000. IAG Wealth Partners LLC increased its stake in Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, AM Squared Ltd bought a new stake in Alphabet during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the completion of the sale, the director now directly owns 32,240 shares in the company, valued at $3,869,122.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. In the last ninety days, insiders sold 615,832 shares of company stock worth $22,776,264. 0.88% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same period last year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.64 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently issued reports on GOOGL. JPMorgan Chase & Co. lifted their target price on Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird upped their price objective on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Truist Financial raised their target price on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Stifel Nicolaus upped their price target on shares of Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Needham & Company LLC upped their target price on shares of Alphabet from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.19.
Read Our Latest Stock Analysis on Alphabet
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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