Alphabet Inc. $GOOGL Position Increased by Heartland Bank & Trust Co

Heartland Bank & Trust Co lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,267 shares of the information services provider’s stock after purchasing an additional 184 shares during the quarter. Alphabet accounts for approximately 3.7% of Heartland Bank & Trust Co’s portfolio, making the stock its 5th largest position. Heartland Bank & Trust Co’s holdings in Alphabet were worth $7,977,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOGL. Mystic Asset Management Inc. increased its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its stake in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC raised its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC boosted its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Oppenheimer raised their price objective on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Guggenheim reissued a “buy” rating and set a $280.00 price target (up from $210.00) on shares of Alphabet in a research note on Friday, October 17th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Truist Financial upped their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Cantor Fitzgerald increased their target price on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $263.20.

Alphabet Stock Up 2.7%

Shares of NASDAQ GOOGL opened at $259.92 on Friday. The firm’s fifty day moving average is $236.72 and its 200 day moving average is $195.25. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $261.68. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

About Alphabet

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.