Simmons Bank Buys 36,847 Shares of Alphabet Inc. (NASDAQ:GOOG)

Simmons Bank grew its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,770.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,928 shares of the information services provider’s stock after purchasing an additional 36,847 shares during the period. Simmons Bank’s holdings in Alphabet were worth $3,743,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. grew its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in shares of Alphabet during the second quarter worth $203,000. Finally, Aspireon Wealth Advisors bought a new position in shares of Alphabet in the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’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 in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’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 in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now owns 24,694 shares in the company, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 5.7 %

Alphabet stock opened at $99.28 on Friday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The firm’s fifty day moving average is $93.52 and its 200 day moving average is $102.16. The company has a market capitalization of $1.28 trillion, a PE ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released 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 company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the previous year, the firm earned $1.40 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. Societe Generale lowered their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. JPMorgan Chase & Co. set a $115.00 target price on shares of Alphabet in a report on Wednesday, October 26th. Cowen reduced their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Cowen reduced their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Alphabet 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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