Blue Trust Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Blue Trust Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 33.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,360 shares of the information services provider’s stock after purchasing an additional 20,460 shares during the period. Blue Trust Inc.’s holdings in Alphabet were worth $15,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Epoch Investment Partners Inc. increased its position in Alphabet by 3.6% during the second quarter. Epoch Investment Partners Inc. now owns 1,530,069 shares of the information services provider’s stock worth $278,702,000 after buying an additional 53,762 shares during the period. Goepper Burkhardt LLC raised its position in Alphabet by 2.8% in the 2nd quarter. Goepper Burkhardt LLC now owns 5,645 shares of the information services provider’s stock valued at $1,028,000 after purchasing an additional 155 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in Alphabet by 14.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 81,116 shares of the information services provider’s stock worth $14,775,000 after purchasing an additional 10,316 shares during the period. Itau Unibanco Holding S.A. grew its position in Alphabet by 42.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 200,836 shares of the information services provider’s stock worth $36,600,000 after purchasing an additional 59,880 shares during the last quarter. Finally, Fernbridge Capital Management LP acquired a new position in Alphabet in the second quarter valued at $18,002,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,189 shares of company stock worth $22,182,696 over the last 90 days. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Nine 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Alphabet Stock Performance

GOOGL opened at $204.02 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.50 trillion, a PE ratio of 27.06, a P/E/G ratio of 1.26 and a beta of 0.98. The business has a fifty day simple moving average of $188.97 and a 200-day simple moving average of $174.08. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $205.48.

Alphabet 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.