Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,001 shares of the information services provider’s stock after acquiring an additional 131 shares during the period. Alphabet accounts for about 1.1% of Sandy Spring Bank’s portfolio, making the stock its 17th largest holding. Sandy Spring Bank’s holdings in Alphabet were worth $22,253,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Affinity Capital Advisors LLC increased its holdings in Alphabet by 1.3% in the fourth quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider’s stock valued at $898,000 after buying an additional 4 shares during the last quarter. Summit Financial Strategies Inc. increased its holdings in Alphabet by 1.3% in the fourth quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock valued at $933,000 after buying an additional 4 shares during the last quarter. Palisades Hudson Asset Management L.P. grew its holdings in shares of Alphabet by 1.1% during the fourth quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock worth $1,046,000 after purchasing an additional 4 shares during the last quarter. AFT Forsyth & Company Inc. grew its holdings in shares of Alphabet by 0.3% during the fourth quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock worth $3,427,000 after purchasing an additional 4 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC grew its holdings in shares of Alphabet by 6.8% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock worth $175,000 after purchasing an additional 4 shares during the last quarter. 41.70% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.3 %

GOOGL stock opened at $114.86 on Tuesday. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 21.37, a PEG ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The company has a 50 day moving average price of $154.53 and a two-hundred day moving average price of $138.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the previous year, the firm earned $27.26 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOGL shares. Wedbush dropped their price objective on Alphabet from $190.00 to $155.65 in a report on Wednesday, April 27th. Wells Fargo & Company dropped their price objective on Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. MKM Partners dropped their price objective on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Canaccord Genuity Group dropped their price objective on Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Finally, Evercore ISI decreased their target price on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.29.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the transaction, the director now owns 265 shares in the company, valued at approximately $604,459.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the transaction, the director now owns 265 shares in the company, valued at approximately $604,459.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the acquisition, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The disclosure for this purchase can be found here. Insiders have sold a total of 6,737 shares of company stock worth $11,549,847 in the last quarter. 11.44% of the stock is owned by insiders.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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