Hancock Whitney Corp trimmed its holdings in Alphabet Inc (NASDAQ:GOOGL) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,285 shares of the information services provider’s stock after selling 1,477 shares during the period. Alphabet comprises about 0.6% of Hancock Whitney Corp’s investment portfolio, making the stock its 24th largest holding. Hancock Whitney Corp’s holdings in Alphabet were worth $18,716,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet in the second quarter valued at about $37,000. Belvedere Advisors LLC bought a new stake in shares of Alphabet in the first quarter valued at about $38,000. Thor Advisors LLC bought a new stake in shares of Alphabet in the first quarter valued at about $45,000. Lipe & Dalton bought a new stake in shares of Alphabet in the second quarter valued at about $49,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Alphabet by 26.3% in the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 10 shares in the last quarter. 33.50% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:GOOGL traded down $14.05 on Tuesday, hitting $1,207.09. The company’s stock had a trading volume of 411,018 shares, compared to its average volume of 1,248,975. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $1,202.14 and a two-hundred day moving average of $1,174.05. The firm has a market capitalization of $839.06 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. Alphabet Inc has a one year low of $977.66 and a one year high of $1,296.97.
A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Loop Capital initiated coverage on Alphabet in a report on Monday, June 3rd. They issued a “hold” rating and a $1,250.00 price target on the stock. FBN Securities set a $1,400.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Mizuho upped their target price on Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Cowen set a $1,500.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $1,375.78.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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