First American Trust FSB Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

First American Trust FSB increased its position in Alphabet Inc. (NASDAQ:GOOG) by 235.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,387 shares of the information services provider’s stock after purchasing an additional 7,994 shares during the period. First American Trust FSB’s holdings in Alphabet were worth $1,605,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after acquiring an additional 129,835,437 shares during the last quarter. FMR LLC increased its stake in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Morgan Stanley increased its stake in Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.6 %

Shares of NASDAQ GOOG opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05. The stock has a 50 day moving average price of $147.15 and a 200 day moving average price of $141.61. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GOOG shares. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $159.86.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

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.