Avalon Trust Co decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 91,248 shares of the information services provider’s stock after selling 10,585 shares during the quarter. Avalon Trust Co’s holdings in Alphabet were worth $10,922,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter valued at $26,000. Armor Investment Advisors LLC bought a new stake in Alphabet during the second quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 136.7% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after buying an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the fourth quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the 3rd quarter worth approximately $38,000. 35.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Loop Capital upped their price target on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Susquehanna reaffirmed a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Needham & Company LLC raised their price target on Alphabet from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. upped their price objective on Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research note on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.
Insider Transactions at Alphabet
In other Alphabet news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the sale, the director now directly owns 14,226 shares of the company’s stock, valued at approximately $1,769,145.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $124.36, for a total transaction of $31,090.00. Following the transaction, the director now directly owns 14,226 shares of the company’s stock, valued at $1,769,145.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the sale, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,576 shares of company stock valued at $23,425,367. 0.88% of the stock is currently owned by company insiders.
Alphabet Trading Up 0.7 %
Shares of NASDAQ GOOGL opened at $136.25 on Tuesday. The business’s 50 day moving average price is $133.42 and its 200-day moving average price is $127.88. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. On average, sell-side analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current 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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