Atwater Malick LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Atwater Malick LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,992 shares of the information services provider’s stock after purchasing an additional 2,557 shares during the period. Alphabet comprises about 4.7% of Atwater Malick LLC’s investment portfolio, making the stock its 6th largest position. Atwater Malick LLC’s holdings in Alphabet were worth $11,873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Orrstown Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $1,706,000. Handelsinvest Investeringsforvaltning bought a new stake in shares of Alphabet in the 4th quarter valued at about $5,002,000. Thomasville National Bank boosted its holdings in shares of Alphabet by 22.4% in the 4th quarter. Thomasville National Bank now owns 8,518 shares of the information services provider’s stock valued at $1,190,000 after buying an additional 1,560 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Alphabet by 6.5% in the 4th quarter. Raymond James Trust N.A. now owns 196,252 shares of the information services provider’s stock valued at $27,414,000 after buying an additional 12,055 shares in the last quarter. Finally, Patten Group Inc. boosted its holdings in shares of Alphabet by 1.2% in the 4th quarter. Patten Group Inc. now owns 24,298 shares of the information services provider’s stock valued at $3,394,000 after buying an additional 289 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOOGL shares. Redburn Atlantic lifted their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Truist Financial reduced their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Barclays reduced their price target on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. KeyCorp raised their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.03.

Read Our Latest Analysis on GOOGL

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,659 shares of company stock worth $39,460,310. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 1.2 %

GOOGL stock opened at $148.74 on Thursday. The company’s 50 day moving average price is $142.62 and its 200 day moving average price is $137.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a fifty-two week low of $99.74 and a fifty-two week high of $153.78. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.36 and a beta of 1.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Alphabet Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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