Hancock Whitney Corp Has $2.61 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Hancock Whitney Corp lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,910.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,103 shares of the information services provider’s stock after purchasing an additional 25,755 shares during the quarter. Hancock Whitney Corp’s holdings in Alphabet were worth $2,607,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GOOG. Totem Point Management LLC grew its holdings in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F grew its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in shares of Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. grew its holdings in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its holdings in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of Alphabet stock opened at $92.16 on Wednesday. The company has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The firm’s 50-day moving average price is $93.38 and its two-hundred day moving average price is $102.47.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. Credit Suisse Group set a $128.00 price objective on Alphabet in a report on Wednesday, October 26th. Societe Generale decreased their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Oppenheimer decreased their target price on Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a research report on Thursday, January 12th. Finally, JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.88.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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