Massmutual Trust Co. FSB ADV Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Massmutual Trust Co. FSB ADV decreased its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 190,959 shares of the information services provider’s stock after selling 6,597 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Alphabet were worth $16,944,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock worth $3,281,000 after acquiring an additional 32,414 shares during the last quarter. Grand Jean Capital Management Inc. lifted its holdings in shares of Alphabet by 1,926.2% in the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock worth $13,186,000 after acquiring an additional 130,367 shares during the last quarter. Connecticut Wealth Management LLC lifted its holdings in shares of Alphabet by 1,415.4% in the 3rd quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after acquiring an additional 7,799 shares during the last quarter. Clarity Financial LLC lifted its holdings in Alphabet by 2,118.6% during the 3rd quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after buying an additional 58,940 shares in the last quarter. Finally, Element Wealth LLC lifted its holdings in Alphabet by 2,245.1% during the 3rd quarter. Element Wealth LLC now owns 2,861 shares of the information services provider’s stock worth $275,000 after buying an additional 2,739 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now owns 144,740 shares of the company’s stock, valued at $14,474,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,245 shares of company stock worth $7,174,078. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler reduced their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a research report on Monday, February 6th. Finally, Oppenheimer increased their target price on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.13.

Alphabet Stock Up 1.4 %

GOOG stock opened at $102.46 on Friday. Alphabet Inc. has a one year low of $83.45 and a one year high of $144.16. The stock has a market capitalization of $1.31 trillion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a fifty day moving average of $95.69 and a 200-day moving average of $96.82.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $1.53 EPS. As a group, analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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