Alphabet Inc. (NASDAQ:GOOGL) is Zurcher Kantonalbank Zurich Cantonalbank’s 7th Largest Position

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,967,028 shares of the information services provider’s stock after selling 721,091 shares during the period. Alphabet makes up 2.1% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 7th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alphabet were worth $554,154,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Ullmann Wealth Partners Group LLC grew its position in shares of Alphabet by 37.8% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 4,282 shares of the information services provider’s stock valued at $560,000 after purchasing an additional 1,174 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Alphabet by 20.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 75,720 shares of the information services provider’s stock valued at $9,909,000 after purchasing an additional 12,756 shares in the last quarter. Venture Visionary Partners LLC grew its position in shares of Alphabet by 5.2% during the 3rd quarter. Venture Visionary Partners LLC now owns 177,286 shares of the information services provider’s stock valued at $23,200,000 after purchasing an additional 8,706 shares in the last quarter. Advance Capital Management Inc. grew its position in shares of Alphabet by 9.4% during the 3rd quarter. Advance Capital Management Inc. now owns 9,496 shares of the information services provider’s stock valued at $1,243,000 after purchasing an additional 817 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Alphabet by 1.4% during the 3rd quarter. Global Retirement Partners LLC now owns 88,542 shares of the information services provider’s stock valued at $11,974,000 after purchasing an additional 1,182 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Rosenblatt Securities lowered their price objective on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. UBS Group upped their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 0.5 %

Shares of Alphabet stock opened at $159.13 on Thursday. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company’s 50 day moving average is $146.96 and its 200 day moving average is $141.06. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

About Alphabet

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.