Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Chemung Canal Trust Co.

Chemung Canal Trust Co. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,313 shares of the information services provider’s stock after selling 297 shares during the period. Chemung Canal Trust Co.’s holdings in Alphabet were worth $645,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Spreng Capital Management Inc. lifted its stake in Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. lifted its stake in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. lifted its stake in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC lifted its stake in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management lifted its stake in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,095,196. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 over the last three months. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.3 %

GOOGL opened at $101.62 on Friday. The business has a 50 day moving average of $95.08 and a 200-day moving average of $96.18. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 1.33 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOGL shares. MKM Partners upped their price objective on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. KeyCorp reduced their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Credit Suisse Group dropped their target price on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Barclays upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.44.

Alphabet Company Profile

(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.