Associated Banc Corp Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Associated Banc Corp boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 698,823 shares of the information services provider’s stock after acquiring an additional 7,452 shares during the period. Alphabet makes up approximately 2.6% of Associated Banc Corp’s investment portfolio, making the stock its 3rd largest holding. Associated Banc Corp’s holdings in Alphabet were worth $61,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its position in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 753,384 shares valued at $30,574,577. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a report on Friday, March 17th. Needham & Company LLC restated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Monday, April 3rd. Loop Capital downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Monday, May 15th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, Oppenheimer upped their price target on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.56.

Alphabet Stock Performance

NASDAQ GOOGL opened at $123.48 on Friday. The company has a 50-day simple moving average of $108.64 and a two-hundred day simple moving average of $99.13. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $126.43. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10.

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

About Alphabet

(Get Rating)

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.