Hemenway Trust Co LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Hemenway Trust Co LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 328,991 shares of the information services provider’s stock after purchasing an additional 9,422 shares during the quarter. Alphabet comprises approximately 3.2% of Hemenway Trust Co LLC’s holdings, making the stock its 11th largest holding. Hemenway Trust Co LLC’s holdings in Alphabet were worth $29,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet in the first quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its position in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet in the first quarter valued at $281,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. KeyCorp cut their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Royal Bank of Canada raised their price objective on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. UBS Group upped their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Four equities research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $130.06.

Alphabet Stock Down 0.9 %

Shares of GOOGL stock opened at $116.51 on Tuesday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $122.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The business’s fifty day moving average is $104.14 and its 200-day moving average is $97.43. The stock has a market cap of $1.48 trillion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of Alphabet stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $14.03, for a total value of $1,226,179.91. Following the transaction, the insider now directly owns 11,012,841 shares in the company, valued at approximately $154,510,159.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 7,286 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were acquired at an average price of $26.98 per share, for a total transaction of $196,576.28. Following the completion of the acquisition, the insider now directly owns 2,647,312 shares of the company’s stock, valued at $71,424,477.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of Alphabet stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $14.03, for a total transaction of $1,226,179.91. Following the transaction, the insider now owns 11,012,841 shares in the company, valued at $154,510,159.23. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 326,208 shares valued at $16,803,119. Company insiders own 11.44% of the company’s stock.

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.