Peoples Financial Services CORP. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,904 shares of the information services provider’s stock after selling 347 shares during the quarter. Alphabet accounts for about 1.4% of Peoples Financial Services CORP.’s portfolio, making the stock its 16th biggest holding. Peoples Financial Services CORP.’s holdings in Alphabet were worth $3,134,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC increased its stake in Alphabet by 142.9% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Milestone Wealth LLC grew its position in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 361 shares during the period. Bbjs Financial Advisors LLC acquired a new position in Alphabet during the fourth quarter worth $48,000. GW&K Investment Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $50,000. Finally, Schubert & Co increased its position in shares of Alphabet by 54.7% during the 1st quarter. Schubert & Co now owns 498 shares of the information services provider’s stock worth $52,000 after purchasing an additional 176 shares in the last quarter. 27.13% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have weighed in on GOOG shares. Susquehanna upped their price objective on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Wedbush began coverage on Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Robert W. Baird boosted their price objective on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $130.94.
Insider Buying and Selling
In other news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $121.42, for a total transaction of $46,139.60. Following the sale, the director now owns 4,700 shares in the company, valued at approximately $570,674. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,092 shares of company stock worth $12,221,941. Corporate insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Shares of GOOG stock opened at $138.96 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $130.22 and a two-hundred day simple moving average of $118.50. The firm has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.93.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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