Albion Financial Group UT Has $36.90 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Albion Financial Group UT lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,186 shares of the information services provider’s stock after acquiring an additional 4,375 shares during the quarter. Alphabet accounts for 3.0% of Albion Financial Group UT’s portfolio, making the stock its 7th largest position. Albion Financial Group UT’s holdings in Alphabet were worth $36,904,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp increased its stake in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new position in Alphabet in the 4th quarter worth about $8,335,063,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GOOGL shares. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Barclays cut their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Mizuho raised their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. UBS Group raised their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Truist Financial cut their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.64.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $154.40 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The company has a 50 day simple moving average of $145.76 and a two-hundred day simple moving average of $140.19. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the business posted $1.05 EPS. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 228,839 shares of company stock valued at $32,835,757 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

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.