Heritage Trust Co Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Heritage Trust Co raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 68,267 shares of the information services provider’s stock after purchasing an additional 2,898 shares during the period. Alphabet comprises approximately 1.0% of Heritage Trust Co’s holdings, making the stock its 28th largest position. Heritage Trust Co’s holdings in Alphabet were worth $6,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth $225,000. Worth Asset Management LLC acquired a new stake in Alphabet in the first quarter valued at $206,000. Eudaimonia Advisors LLC grew its holdings in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet in the first quarter valued at $281,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Loop Capital lowered Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Monday, May 15th. Royal Bank of Canada upped their target price on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. StockNews.com initiated coverage on Alphabet in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Oppenheimer increased their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Piper Sandler increased their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.56.

Alphabet Stock Performance

Alphabet stock opened at $123.48 on Friday. The stock’s 50 day moving average price is $108.64 and its 200 day moving average price is $99.13. The firm has a market capitalization of $1.57 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a one year low of $83.34 and a one year high of $126.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the previous year, the business earned $1.23 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 753,384 shares worth $30,574,577. 0.88% of the stock is owned by company insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.