Busey Wealth Management Acquires 183,678 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Busey Wealth Management lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,834.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,690 shares of the information services provider’s stock after acquiring an additional 183,678 shares during the period. Alphabet makes up approximately 0.9% of Busey Wealth Management’s portfolio, making the stock its 25th biggest position. Busey Wealth Management’s holdings in Alphabet were worth $18,527,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. grew its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the period. Farmers Trust Co. grew its stake in shares of Alphabet by 2.2% in the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after buying an additional 129 shares during the period. Ziegler Capital Management LLC grew its stake in shares of Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after buying an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC grew its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after buying an additional 6,137 shares during the period. 34.06% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Royal Bank of Canada reduced their target price on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Citigroup cut their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Truist Financial cut their price target on Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Needham & Company LLC cut their price target on Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, December 22nd. Finally, StockNews.com began coverage on Alphabet in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Trading Up 1.1 %

Shares of GOOGL stock opened at $92.12 on Friday. The company’s fifty day simple moving average is $92.82 and its two-hundred day simple moving average is $102.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.53 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same period in the previous year, the firm earned $1.40 EPS. As a group, analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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