Coastline Trust Co Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Coastline Trust Co boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,589 shares of the information services provider’s stock after buying an additional 214 shares during the period. Alphabet makes up about 2.2% of Coastline Trust Co’s investment portfolio, making the stock its 4th largest position. Coastline Trust Co’s holdings in Alphabet were worth $18,326,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOGL. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at $14,477,662,000. Fundsmith LLP acquired a new stake in Alphabet in the 4th quarter valued at $1,214,138,000. Invesco Ltd. boosted its stake in Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after buying an additional 283,907 shares in the last quarter. State Street Corp boosted its stake in Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after buying an additional 157,280 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Alphabet in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 41.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Mizuho decreased their price target on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Jefferies Financial Group cut their price objective on Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, July 27th. Susquehanna cut their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, July 27th. Finally, JMP Securities cut their price objective on Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.36.

Alphabet Stock Up 2.6 %

GOOGL stock opened at $118.08 on Thursday. The business has a 50-day moving average of $154.96 and a 200-day moving average of $138.24. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 21.97, a P/E/G ratio of 1.85 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly 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 net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the firm earned $27.26 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 31 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the completion of the transaction, the director now directly owns 265 shares of the company’s stock, valued at $604,459.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 31 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the sale, the director now owns 265 shares in the company, valued at $604,459.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now directly owns 593,402 shares of the company’s stock, valued at $20,009,515.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 7,584 shares of company stock valued at $11,646,684. Insiders own 11.44% of the company’s stock.

About Alphabet

(Get Rating)

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

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Want More Great Investing Ideas?

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.