Avalon Trust Co lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,248 shares of the information services provider’s stock after selling 10,585 shares during the period. Avalon Trust Co’s holdings in Alphabet were worth $10,922,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new stake in Alphabet in the 4th quarter valued at about $26,000. Armor Investment Advisors LLC acquired a new stake in Alphabet in the second quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 136.7% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet during the fourth quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the 3rd quarter valued at $38,000. 35.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Roth Mkm upped their price target on Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Rosenblatt Securities lifted their price objective on shares of Alphabet from $163.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Truist Financial raised their price target on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.00.
In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,576 shares of company stock worth $23,425,367. 0.88% of the stock is currently owned by insiders.
Alphabet Stock Performance
Alphabet stock opened at $136.25 on Tuesday. Alphabet Inc. has a 1-year low of $84.86 and a 1-year high of $141.22. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.71 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The firm’s 50 day simple moving average is $133.42 and its 200 day simple moving average is $127.88.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. As a group, analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
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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