First Interstate Bank Sells 1,463 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Interstate Bank reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,160 shares of the information services provider’s stock after selling 1,463 shares during the period. Alphabet accounts for approximately 0.8% of First Interstate Bank’s investment portfolio, making the stock its 21st biggest position. First Interstate Bank’s holdings in Alphabet were worth $10,499,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC grew its position in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC increased its holdings in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA grew its position in Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Redburn Atlantic increased their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. UBS Group increased their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Rosenblatt Securities lowered their price objective on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, 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. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Trading Up 0.5 %

GOOGL opened at $159.13 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company’s 50-day moving average is $146.96 and its 200 day moving average is $141.06. The firm has a market capitalization of $1.98 trillion, a PE ratio of 27.44, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22.

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

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction 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 directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. Corporate insiders own 0.88% of the company’s stock.

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.