Argent Trust Co Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Argent Trust Co cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 225,662 shares of the information services provider’s stock after selling 7,141 shares during the quarter. Alphabet accounts for 1.3% of Argent Trust Co’s investment portfolio, making the stock its 13th biggest holding. Argent Trust Co’s holdings in Alphabet were worth $19,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VitalStone Financial LLC acquired a new position in shares of Alphabet in the fourth quarter worth $25,000. Laurel Wealth Planning LLC raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners raised its holdings in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $33,000. Finally, TFO TDC LLC grew its position in shares of Alphabet by 952.6% in the third quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 362 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 732,217 shares of company stock valued at $21,135,371 and have sold 753,384 shares valued at $30,574,577. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Up 2.1 %

NASDAQ:GOOGL opened at $123.48 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $108.64 and its two-hundred day moving average is $99.13. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $126.43. The company has a market cap of $1.57 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the business posted $1.23 EPS. On average, analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Credit Suisse Group lowered their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Oppenheimer lifted their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research report on Monday, April 3rd. Morgan Stanley upped their price target on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Finally, Wells Fargo & Company upped their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.56.

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.