First Nebraska Trust Co Purchases Shares of 144,261 Alphabet Inc. $GOOGL

First Nebraska Trust Co acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 144,261 shares of the information services provider’s stock, valued at approximately $41,484,000. Alphabet accounts for 3.8% of First Nebraska Trust Co’s investment portfolio, making the stock its 5th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Strategic Wealth Advisors LLC boosted its stake in shares of Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock worth $137,000 after acquiring an additional 27 shares during the last quarter. Rockbridge Investment Management LCC increased its stake in shares of Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after purchasing an additional 27 shares in the last quarter. Ruggaard & Associates LLC increased its stake in shares of Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after purchasing an additional 27 shares in the last quarter. Cadia Private Client LLC raised its holdings in Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after purchasing an additional 28 shares during the period. Finally, Midwest Professional Planners LTD. raised its holdings in Alphabet by 1.2% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider’s stock worth $680,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Bank of America boosted their price target on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. BNP Paribas Exane lifted their price objective on Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, June 22nd. Dbs Bank increased their target price on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Finally, Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $419.86.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 600,547 shares of company stock valued at $16,255,540 in the last 90 days. Insiders own 11.61% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Trading Down 1.0%

Shares of GOOGL opened at $354.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 1 year low of $196.60 and a 1 year high of $408.61. The company has a 50 day simple moving average of $355.68 and a two-hundred day simple moving average of $340.41. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is presently 4.42%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.