Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bank of Stockton

July 18, 2022 Erin Reynolds

Bank of Stockton trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,930 shares of the information services provider’s stock after selling 126 shares during the period. Alphabet makes up about 1.7% of Bank of Stockton’s portfolio, making the stock its 14th biggest position. Bank of Stockton’s holdings in Alphabet were worth $5,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp lifted its stake in Alphabet by 1.4% during the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alphabet by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after purchasing an additional 20,120 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Alphabet by 14.1% during the 4th quarter. invesco ltd now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares in the last quarter. 41.70% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.3%

Shares of GOOGL stock opened at $2,235.55 on Monday. The company’s 50-day moving average price is $154.79 and its 200-day moving average price is $140.76. Alphabet Inc. has a twelve month low of $2,037.69 and a twelve month high of $3,030.93. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.10 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.05). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same period in the previous year, the company earned $1.31 EPS. As a group, equities analysts predict that Alphabet Inc. will post 109.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Citigroup cut their target price on shares of Alphabet from $158.75 to $145.00 in a report on Thursday. Truist Financial cut their target price on shares of Alphabet from $180.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Evercore ISI cut their target price on shares of Alphabet from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. UBS Group cut their price target on shares of Alphabet from $180.00 to $132.50 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, Jefferies Financial Group cut their price target on shares of Alphabet from $170.00 to $155.00 in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $162.21.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 33 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the sale, the director now directly owns 78 shares in the company, valued at $183,174.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 5,739 shares of company stock valued at $12,616,323 over the last 90 days. 11.44% of the stock is owned by insiders.

Alphabet Company Profile

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Central Valley Chronicle