Simmons Bank Acquires 97,342 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Simmons Bank increased its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,986.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 102,243 shares of the information services provider’s stock after buying an additional 97,342 shares during the period. Alphabet accounts for approximately 0.9% of Simmons Bank’s portfolio, making the stock its 23rd largest position. Simmons Bank’s holdings in Alphabet were worth $9,779,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Berger Financial Group Inc increased its position in Alphabet by 1,983.8% in the third quarter. Berger Financial Group Inc now owns 65,201 shares of the information services provider’s stock worth $6,236,000 after purchasing an additional 62,072 shares during the last quarter. Avitas Wealth Management LLC increased its position in Alphabet by 1,603.0% during the third quarter. Avitas Wealth Management LLC now owns 91,060 shares of the information services provider’s stock valued at $8,710,000 after acquiring an additional 85,713 shares during the last quarter. Campbell Newman Asset Management Inc. increased its position in Alphabet by 1,899.1% during the third quarter. Campbell Newman Asset Management Inc. now owns 45,520 shares of the information services provider’s stock valued at $4,354,000 after acquiring an additional 43,243 shares during the last quarter. Heritage Investors Management Corp increased its position in Alphabet by 1,885.4% during the third quarter. Heritage Investors Management Corp now owns 440,162 shares of the information services provider’s stock valued at $42,101,000 after acquiring an additional 417,992 shares during the last quarter. Finally, Asset Dedication LLC increased its position in Alphabet by 1,903.1% during the third quarter. Asset Dedication LLC now owns 23,456 shares of the information services provider’s stock valued at $2,270,000 after acquiring an additional 22,285 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $99.79 on Tuesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.29 trillion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The firm’s 50-day moving average price is $93.12 and its 200-day moving average price is $101.49.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. During the same quarter last year, the company earned $1.40 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Cowen cut their price objective on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. Tigress Financial cut their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Sanford C. Bernstein cut their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. StockNews.com started coverage on shares of Alphabet in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group lowered their target price on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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