Alphabet Inc. $GOOGL Shares Sold by WoodTrust Financial Corp

WoodTrust Financial Corp lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,177 shares of the information services provider’s stock after selling 5,091 shares during the period. Alphabet makes up approximately 2.5% of WoodTrust Financial Corp’s investment portfolio, making the stock its 12th largest holding. WoodTrust Financial Corp’s holdings in Alphabet were worth $20,950,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp lifted its stake in shares of Alphabet by 2.3% in the second quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock worth $448,684,000 after buying an additional 56,295 shares in the last quarter. Moment Partners LLC lifted its position in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC grew its holdings in Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares in the last quarter. Brooktree Capital Management acquired a new stake in shares of Alphabet in the 2nd quarter worth $352,000. Finally, Griffin Asset Management Inc. raised its holdings in shares of Alphabet by 13.9% during the 3rd quarter. Griffin Asset Management Inc. now owns 58,731 shares of the information services provider’s stock worth $14,277,000 after acquiring an additional 7,180 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider John Kent Walker sold 17,829 shares of the stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the completion of the sale, the insider directly owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the completion of the transaction, the chief accounting officer directly owned 8,962 shares in the company, valued at $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 222,297 shares of company stock valued at $68,531,851. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.7%

Shares of Alphabet stock opened at $338.25 on Friday. The company’s fifty day moving average is $319.46 and its two-hundred day moving average is $263.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $342.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $4.08 trillion, a P/E ratio of 33.36, a PEG ratio of 1.85 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. UBS Group restated a “neutral” rating and set a $345.00 price target (up previously from $306.00) on shares of Alphabet in a report on Tuesday, January 20th. Daiwa Capital Markets upped their price objective on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. CICC Research lifted their price target on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Oppenheimer increased their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Arete Research lifted their price target on Alphabet from $300.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Four analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.60.

About Alphabet

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.