First Bank & Trust Has $2.42 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

First Bank & Trust boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,055.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 25,152 shares of the information services provider’s stock after acquiring an additional 23,985 shares during the quarter. Alphabet accounts for approximately 0.9% of First Bank & Trust’s portfolio, making the stock its 24th largest position. First Bank & Trust’s holdings in Alphabet were worth $2,419,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GOOG. Sumitomo Mitsui Trust Holdings Inc. increased its position in Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after buying an additional 17,365,189 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Alphabet by 1,879.5% in the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock valued at $1,124,431,000 after purchasing an additional 11,103,769 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Alphabet by 1,899.8% in the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock valued at $654,531,000 after purchasing an additional 6,343,615 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Alphabet by 1,835.5% in the third quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock valued at $619,633,000 after purchasing an additional 6,111,475 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Alphabet by 1,861.3% in the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock valued at $431,640,000 after purchasing an additional 4,260,344 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cowen decreased their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Societe Generale decreased their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. The Goldman Sachs Group set a $135.00 target price on Alphabet in a research report on Friday, November 18th. Sanford C. Bernstein set a $120.00 target price on Alphabet in a research report on Thursday, January 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.56.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 280 shares of the stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. In the last ninety days, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 5.7 %

NASDAQ GOOG opened at $99.28 on Monday. The business has a fifty day moving average price of $93.52 and a two-hundred day moving average price of $102.16. 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 fifty-two week low of $83.45 and a fifty-two week high of $152.10. The stock has a market capitalization of $1.28 trillion, a PE ratio of 19.72, a PEG ratio of 1.74 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 for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

About Alphabet

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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

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

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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