Alphabet Inc. (NASDAQ:GOOG) Shares Bought by CNB Bank

CNB Bank lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,719 shares of the information services provider’s stock after buying an additional 1,996 shares during the period. Alphabet comprises 2.2% of CNB Bank’s investment portfolio, making the stock its 6th biggest holding. CNB Bank’s holdings in Alphabet were worth $4,188,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Totem Point Management LLC increased its stake in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares in the last quarter. Somerville Kurt F increased its stake in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. increased its stake in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. increased its stake in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.1 %

NASDAQ:GOOG opened at $155.72 on Monday. The business’s 50-day moving average is $147.46 and its two-hundred day moving average is $141.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The firm has a market capitalization of $1.94 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $159.86.

Alphabet Company 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.