Simmons Bank Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Simmons Bank raised its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,986.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,243 shares of the information services provider’s stock after buying an additional 97,342 shares during the period. Alphabet comprises about 0.9% of Simmons Bank’s investment portfolio, making the stock its 23rd biggest holding. Simmons Bank’s holdings in Alphabet were worth $9,779,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Alphabet in the 3rd quarter worth about $55,305,000. Griffin Asset Management Inc. lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the period. Farmers Trust Co. lifted its position in shares of Alphabet by 2.2% in the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after purchasing an additional 129 shares during the period. Ziegler Capital Management LLC lifted its position in shares of Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after purchasing an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after purchasing an additional 6,137 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Rosenblatt Securities dropped their target price on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Mizuho dropped their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Needham & Company LLC decreased their price target on shares of Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, December 22nd. Royal Bank of Canada decreased their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Susquehanna decreased their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Stock Performance

GOOGL opened at $99.79 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.72 and a beta of 1.09. The company’s 50 day moving average is $93.12 and its 200 day moving average is $101.49. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the prior year, the firm earned $1.40 EPS. On average, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. Insiders own 11.44% of the company’s stock.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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