Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,310,473 shares of the information services provider’s stock after acquiring an additional 122,843 shares during the quarter. Alphabet accounts for approximately 2.2% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 5th largest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alphabet were worth $447,125,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in GOOGL. Spreng Capital Management Inc. increased its stake in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. increased its stake in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management boosted its position in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the period. Institutional investors own 35.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GOOGL shares. JMP Securities raised their target price on Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 26th. Roth Mkm lifted their price objective on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. KeyCorp upped their target price on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Evercore ISI lifted their price target on shares of Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Four 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 company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $142.19.
Alphabet Trading Down 1.2 %
Shares of GOOGL stock opened at $129.78 on Wednesday. The stock’s 50-day moving average price is $124.11 and its 200-day moving average price is $111.84. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $133.74. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the company posted $1.21 EPS. Equities research analysts predict that Alphabet Inc. will post 5.67 EPS for the current fiscal year.
Insider Activity at Alphabet
In other news, 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 sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. 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 90 days. 0.88% of the stock is owned by corporate insiders.
Alphabet 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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