Trustcore Financial Services LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 31.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,499 shares of the information services provider’s stock after acquiring an additional 593 shares during the period. Alphabet accounts for 0.6% of Trustcore Financial Services LLC’s investment portfolio, making the stock its 24th biggest holding. Trustcore Financial Services LLC’s holdings in Alphabet were worth $6,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Morling Financial Advisors LLC bought a new stake in Alphabet in the fourth quarter worth $29,000. West Bancorporation Inc. bought a new stake in Alphabet in the fourth quarter worth $29,000. Wealthgate Family Office LLC bought a new stake in Alphabet in the fourth quarter worth $32,000. NS Partners Ltd bought a new stake in Alphabet during the fourth quarter valued at about $41,000. Finally, Greenspring Advisors LLC boosted its holdings in Alphabet by 76.6% during the first quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 213 shares during the period. 41.70% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $121.70 on Wednesday. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company’s 50 day simple moving average is $155.91 and its 200-day simple moving average is $137.46. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the prior year, the firm earned $27.26 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Wells Fargo & Company decreased their price target on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Susquehanna Bancshares decreased their price target on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a report on Wednesday, July 27th. Rosenblatt Securities decreased their price target on shares of Alphabet from $205.00 to $154.00 and set a “buy” rating for the company in a report on Monday, July 25th. Finally, Morgan Stanley upped their price target on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of Alphabet stock in a transaction on Tuesday, May 24th. The stock was acquired at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the purchase, the insider now owns 593,402 shares of the company’s stock, valued at approximately $20,009,515.44. The disclosure for this purchase can be found here. Insiders have sold 42,852 shares of company stock valued at $15,750,955 over the last three months. 11.44% of the stock is owned by insiders.

Alphabet 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.

Further Reading

Cap Expand Partners SECFilingChart Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Trustcore Financial Services LLC Family Offices AND investments



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