First County Bank CT lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,754 shares of the information services provider’s stock after purchasing an additional 2,313 shares during the quarter. Alphabet accounts for about 1.4% of First County Bank CT’s holdings, making the stock its 17th largest position. First County Bank CT’s holdings in Alphabet were worth $2,843,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spreng Capital Management Inc. grew its position in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. lifted its stake in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC lifted its stake in shares of Alphabet by 1.8% during the first 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 period. Finally, Weik Capital Management lifted its stake in shares of Alphabet by 0.5% during the first 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. 35.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on GOOGL shares. Barclays upped their price objective on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Sanford C. Bernstein increased their price target on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. KeyCorp increased their price target on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Piper Sandler cut their price target on shares of Alphabet from $148.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.86.
Alphabet Trading Down 1.3 %
Shares of NASDAQ:GOOGL opened at $132.43 on Wednesday. The company has a market cap of $1.67 trillion, a PE ratio of 28.06, a P/E/G ratio of 1.51 and a beta of 1.06. The company’s 50-day moving average price is $132.30 and its 200 day moving average price is $121.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the previous year, the firm earned $1.21 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 420 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $132.09, for a total transaction of $55,477.80. Following the sale, the chief accounting officer now owns 25,988 shares in the company, valued at $3,432,754.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,248 shares of company stock worth $15,024,706. 0.88% of the stock is owned by corporate insiders.
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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