Security National Bank of Sioux City Iowa IA lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,278 shares of the information services provider’s stock after purchasing an additional 112 shares during the period. Alphabet makes up about 2.1% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 9th biggest position. Security National Bank of Sioux City Iowa IA’s holdings in Alphabet were worth $2,636,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Resolute Partners Group acquired a new stake in shares of Alphabet during the fourth quarter worth $28,000. TFO TDC LLC purchased a new position in shares of Alphabet during the first quarter valued at $43,000. Cypress Point Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $39,000. Cowa LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $38,000. Finally, Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Alphabet during the first quarter valued at $52,000. 34.46% of the stock is currently owned by institutional investors.
A number of brokerages have commented on GOOGL. BMO Capital Markets boosted their target price on Alphabet from $2,350.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Friday, April 23rd. Barclays boosted their target price on Alphabet from $2,500.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Loop Capital upgraded Alphabet from a “hold” rating to a “buy” rating and set a $2,525.00 target price on the stock in a research note on Tuesday, February 16th. Wells Fargo & Company boosted their target price on Alphabet from $2,650.00 to $2,850.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Finally, Credit Suisse Group upped their price target on Alphabet from $2,360.00 to $2,500.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $2,516.55.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $15.82 by $10.47. The company had revenue of $45.60 billion for the quarter, compared to the consensus estimate of $42.46 billion. Alphabet had a return on equity of 23.54% and a net margin of 26.11%. During the same quarter in the prior year, the business posted $9.87 EPS. On average, equities analysts predict that Alphabet Inc. will post 89.46 earnings per share for the current fiscal year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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