Argent Trust Co Has $19.91 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Argent Trust Co lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 225,662 shares of the information services provider’s stock after selling 7,141 shares during the quarter. Alphabet comprises about 1.3% of Argent Trust Co’s investment portfolio, making the stock its 13th largest position. Argent Trust Co’s holdings in Alphabet were worth $19,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FourThought Financial Partners LLC acquired a new stake in Alphabet during the fourth quarter valued at $5,415,000. Glenview Trust Co lifted its position in shares of Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after buying an additional 44,278 shares during the last quarter. Willow Creek Wealth Management Inc. lifted its position in shares of Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after buying an additional 17,631 shares during the last quarter. Bfsg LLC lifted its position in shares of Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after buying an additional 4,975 shares during the last quarter. Finally, Ibex Investors LLC acquired a new stake in shares of Alphabet in the fourth quarter worth about $2,617,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Stock Up 2.1 %

NASDAQ:GOOGL opened at $123.48 on Friday. The stock’s fifty day moving average price is $108.64 and its two-hundred day moving average price is $99.13. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $126.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The company has a market cap of $1.57 trillion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10.

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. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the prior year, the business earned $1.23 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the sale, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wolfe Research boosted their price target on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Loop Capital cut Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Monday, May 15th. Barclays lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Royal Bank of Canada lifted their price objective on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Finally, Piper Sandler lifted their price objective on Alphabet from $117.00 to $128.00 and gave the stock 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.56.

About Alphabet

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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.