Chevy Chase Trust Holdings LLC Has $589.09 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Chevy Chase Trust Holdings LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,217,139 shares of the information services provider’s stock after selling 44,481 shares during the quarter. Alphabet makes up 2.1% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 5th largest position. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $589,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Bornite Capital Management LP bought a new position in shares of Alphabet during the 1st quarter worth $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its stake in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $156.14 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business’s 50 day simple moving average is $144.65 and its two-hundred day simple moving average is $139.39. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $158.56.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the firm earned $1.05 EPS. Analysts forecast that Alphabet Inc. will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The disclosure for this sale can be found here. Insiders have sold 250,539 shares of company stock valued at $35,906,259 in the last ninety days. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. KeyCorp raised their target price on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Wells Fargo & Company dropped their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.61.

Alphabet Profile

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