Somerset Trust Co Acquires 325 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Somerset Trust Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,922 shares of the information services provider’s stock after buying an additional 325 shares during the quarter. Somerset Trust Co’s holdings in Alphabet were worth $982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Vanguard Group Inc. lifted its position in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. increased its position in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOGL shares. Truist Financial boosted their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Roth Mkm restated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Finally, TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Down 1.4 %

Shares of NASDAQ:GOOGL opened at $162.93 on Friday. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $161.77 and a 200 day moving average price of $168.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 over the last three months. 11.55% of the stock is owned by insiders.

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.