Bell Bank Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Bell Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,525 shares of the information services provider’s stock after buying an additional 522 shares during the period. Bell Bank’s holdings in Alphabet were worth $3,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Financial Advisors Network Inc. boosted its holdings in shares of Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. boosted its holdings in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its holdings in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F boosted its holdings in shares of 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 during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its holdings in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOG shares. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $146.33.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the sale, the director now directly owns 6,784 shares in the company, valued at approximately $973,436.16. The disclosure for this sale can be found here. Insiders have sold 228,239 shares of company stock valued at $32,432,382 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $156.37 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.45 and a beta of 1.05. The firm’s fifty day simple moving average is $145.42 and its 200 day simple moving average is $139.98. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $157.00.

Alphabet (NASDAQ:GOOG) last posted its 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 for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

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.