First Citizens Bank & Trust Co. Has $27.30 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

First Citizens Bank & Trust Co. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 143,330 shares of the information services provider’s stock after purchasing an additional 274 shares during the period. Alphabet comprises 0.4% of First Citizens Bank & Trust Co.’s holdings, making the stock its 22nd largest position. First Citizens Bank & Trust Co.’s holdings in Alphabet were worth $27,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $76,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.7 %

Shares of GOOG stock opened at $197.07 on Wednesday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.41 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.27 and a beta of 0.99. The stock’s fifty day moving average price is $188.29 and its two-hundred day moving average price is $175.13.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOG. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock valued at $22,470,464 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.