Greenleaf Trust raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 266,537 shares of the information services provider’s stock after purchasing an additional 9,200 shares during the quarter. Alphabet accounts for approximately 0.3% of Greenleaf Trust’s investment portfolio, making the stock its 21st biggest position. Greenleaf Trust’s holdings in Alphabet were worth $27,648,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GOOGL. Modera Wealth Management LLC lifted its stake in shares of 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 acquiring 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 $5,415,000. Atria Investments Inc lifted its stake in shares of Alphabet by 7.4% in the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after acquiring an additional 21,907 shares during the last quarter. Glenview Trust Co lifted its stake in shares of Alphabet by 10.7% in the 4th 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. Finally, Hallmark Capital Management Inc. lifted its stake in shares of Alphabet by 8.9% in the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after acquiring an additional 13,605 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the company’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 completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the company’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 completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $14.98, for a total value of $240,144.38. The disclosure for this sale can be found here. Insiders sold a total of 153,813 shares of company stock valued at $7,380,379 over the last three months. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its 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 company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the prior year, the company posted $1.21 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
GOOGL has been the subject of a number of research reports. Loop Capital increased their price target on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Tigress Financial increased their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Mizuho raised their target price on Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Wolfe Research raised their target price on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Finally, Wedbush assumed coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating and a $160.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.89.
Read Our Latest Research Report on Alphabet
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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