Oakworth Capital Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Oakworth Capital Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 19,927 shares of the information services provider’s stock after acquiring an additional 342 shares during the period. Oakworth Capital Inc.’s holdings in Alphabet were worth $2,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC boosted its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp lifted its position in Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after purchasing an additional 335,219 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after acquiring an additional 1,809,910 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 9.3% during the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after acquiring an additional 2,058,221 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $156.00 on Friday. The stock has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.46 and a beta of 1.05. The business has a 50 day simple moving average of $147.22 and a two-hundred day simple moving average of $141.16. 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 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during 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 quarter last year, the business posted $1.05 EPS. On average, research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOGL. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Barclays cut their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group increased their target price on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.71.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

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.