Cambridge Trust Co. Has $67.30 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Cambridge Trust Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 481,770 shares of the information services provider’s stock after buying an additional 4,054 shares during the quarter. Alphabet makes up 2.8% of Cambridge Trust Co.’s portfolio, making the stock its 3rd biggest position. Cambridge Trust Co.’s holdings in Alphabet were worth $67,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC increased its position in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. International Assets Investment Management LLC grew its position in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth about $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in Alphabet in the 3rd quarter valued at about $601,545,000. Finally, Lone Pine Capital LLC acquired a new position in Alphabet during the 3rd quarter valued at about $407,367,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC lifted their target price on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Wedbush increased their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup lifted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, TD Cowen increased their target price on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 29.65, a P/E/G ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 52-week low of $103.54 and a 52-week high of $174.71. The company’s 50 day simple moving average is $147.85 and its 200-day simple moving average is $141.39.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ruth Porat sold 48,077 shares of Alphabet 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 sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by corporate insiders.

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.