Alphabet Inc. (NASDAQ:GOOGL) is Ledyard National Bank’s 10th largest position


Ledyard National Bank lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.7% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company held 6,302 shares of the information services provider after selling 242 shares during the quarter. Alphabet represents around 1.8% of Ledyard National Bank’s holdings, making it its 10th largest holding. Ledyard National Bank’s holdings in Alphabet were worth $17,528,000 at the end of the last reporting period.

Other institutional investors and hedge funds have also recently changed their positions in the company. State Street Corp increased its stake in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider worth $32,599,789,000 after purchasing an additional 157,280 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider worth $15,381,257,000 after purchasing an additional 116,084 shares during the period. Norges Bank bought a new position in Alphabet during the fourth quarter worth approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its stake in Alphabet by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider worth $8,186,916,000 after purchasing an additional 20,120 shares during the period. Finally, Invesco Ltd. increased its stake in Alphabet by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider worth $6,640,190,000 after purchasing an additional 283,907 shares during the period. 41.70% of the shares are held by hedge funds and other institutional investors.

Several brokerages have weighed in on GOOGL. Rosenblatt Securities began covering Alphabet shares in a research note on Tuesday, April 19. They set a “buy” rating and a target price of $4,183.00 for the company. Citigroup cut its price target on Alphabet shares from $3,175.00 to $2,900.00 in a research report on Thursday. StockNews.com upgraded Alphabet shares from a “buy” rating to a “hold” rating in a Friday, April 29 research report. Mizuho cut its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a Wednesday, April 27 research report. Finally, Wolfe Research cut its price target on Alphabet shares from $3,500.00 to $2,900.00 and set an “outperform” rating on the stock in a Wednesday, April 27 research report. . One investment analyst gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $3,244.22.

In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. As a result of the sale, the senior vice president now directly owns 497 shares of the company, valued at approximately $1,160,644.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, SVP Philipp Schindler sold 3,834 shares of the company in a trade on Tuesday, July 5. The stock was sold at an average price of $2,182.62, for a total transaction of $8,368,165.08. Following the sale, the senior vice president now owns 12,676 shares of the company, valued at $27,666,891.12. The disclosure of this sale can be found here. During the last quarter, insiders sold 5,839 shares of the company worth $12,873,739. 11.44% of the shares are currently held by insiders.

NASDAQ:GOOGL opened at $2,227.07 on Thursday. The company’s fifty-day moving average price is $2,250.35 and its 200-day moving average price is $2,531.92. Alphabet Inc. has a 1-year minimum of $2,037.69 and a 1-year maximum of $3,030.93. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 20.14, a growth price-to-earnings ratio of 1.17, and a beta of 1.10.

Alphabet shares are scheduled to split on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be delivered to shareholders after market close on Friday, July 15.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company posted revenue of $56.02 billion in the quarter, versus $56.17 billion expected by analysts. In the same quarter last year, the company earned earnings per share of $26.29. As a group, analysts expect Alphabet Inc. to post earnings per share of 110.62 for the current fiscal year.

Alphabet Company Profile (Get an assessment)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

See also

Want to see which other hedge funds hold GOOGL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).

Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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