Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,096,558 shares of the information services provider’s stock after purchasing an additional 151,421 shares during the quarter. Alphabet makes up 1.1% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 12th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alphabet were worth $295,468,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Veracity Capital LLC increased its stake in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky increased its stake in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank grew its position in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after acquiring an additional 1,826 shares during the period. CNB Bank grew its position in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after acquiring an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC grew its position in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after acquiring an additional 155 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Trading Up 0.4 %

Shares of GOOG opened at $157.46 on Friday. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.15, a P/E/G ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50-day moving average price of $147.35 and a 200 day moving average price of $141.72.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

About Alphabet

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.