Oakworth Capital Inc. Has $27.01 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Oakworth Capital Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,685 shares of the information services provider’s stock after selling 5,717 shares during the period. Alphabet accounts for 2.2% of Oakworth Capital Inc.’s portfolio, making the stock its 13th largest holding. Oakworth Capital Inc.’s holdings in Alphabet were worth $27,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Veracity Capital LLC grew its stake in shares of Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares during the last quarter. Washington Trust Bank lifted its position in Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the period. CNB Bank lifted its position in Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its position in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOG opened at $155.72 on Friday. The stock has a market cap of $1.94 trillion, a PE ratio of 26.85, a PEG ratio of 1.45 and a beta of 1.05. The business has a fifty day moving average of $147.46 and a two-hundred day moving average of $141.87. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $1.05 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.