Talbot Financial LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1,100.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,460 shares of the information services provider’s stock after purchasing an additional 163,593 shares during the quarter. Alphabet accounts for approximately 3.4% of Talbot Financial LLC’s holdings, making the stock its 5th largest holding. Talbot Financial LLC’s holdings in Alphabet were worth $18,560,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Modera Wealth Management LLC increased its stake in Alphabet by 11.4% in the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after buying an additional 4,420 shares during the last quarter. FourThought Financial Partners LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $5,415,000. Glenview Trust Co increased its position in shares of 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 acquiring an additional 44,278 shares during the last quarter. Hallmark Capital Management Inc. raised its holdings in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after acquiring an additional 13,605 shares in the last quarter. Finally, Bfsg LLC boosted its position in Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Barclays increased their price objective on Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and increased their price target for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Royal Bank of Canada raised their target price on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Finally, Morgan Stanley boosted their price target on Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given 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 target price of $142.19.
Alphabet Stock Performance
Alphabet stock opened at $129.78 on Wednesday. The business has a 50 day moving average of $124.11 and a 200-day moving average of $111.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $133.74. The company has a market capitalization of $1.64 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.49 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the prior year, the company posted $1.21 EPS. On average, equities research analysts predict that Alphabet Inc. will post 5.67 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were 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 owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 340,790 shares of company stock valued at $11,250,754 over the last ninety days. 0.88% of the stock is owned by company insiders.
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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