Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,496 shares of the information services provider’s stock after buying an additional 296 shares during the quarter. Independence Bank of Kentucky’s holdings in Alphabet were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Totem Point Management LLC raised its position 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 purchasing an additional 571 shares during the period. Somerville Kurt F raised its position 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 purchasing an additional 11 shares during the period. BCK Partners Inc. acquired a new stake in shares of Alphabet during the first quarter worth $2,564,000. Hall Capital Management Co. Inc. raised its position 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 purchasing an additional 50 shares during the period. Finally, Fairfield Bush & CO. raised its position 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 purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now 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 accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the 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 owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $128.00 target price on Alphabet in a research report on Friday, February 3rd. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Societe Generale dropped their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Piper Sandler dropped their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Finally, Credit Suisse Group set a $136.00 price target on Alphabet in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.11.

Alphabet Stock Performance

GOOG opened at $102.46 on Friday. The company has a market cap of $1.31 trillion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The stock has a 50-day moving average of $95.69 and a 200-day moving average of $96.73. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Alphabet Company Profile

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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.