Alphabet Inc. (NASDAQ:GOOGL) is PICTET BANK & TRUST Ltd’s 6th Largest Position

PICTET BANK & TRUST Ltd grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 12.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,949 shares of the information services provider’s stock after buying an additional 4,232 shares during the quarter. Alphabet comprises about 4.0% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 6th largest position. PICTET BANK & TRUST Ltd’s holdings in Alphabet were worth $3,436,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. VitalStone Financial LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $25,000. Laurel Wealth Planning LLC raised its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. Coston McIsaac & Partners raised its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $33,000. Finally, TFO TDC LLC raised its position in shares of Alphabet by 952.6% during the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock worth $38,000 after purchasing an additional 362 shares during the period. Institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Truist Financial increased their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. KeyCorp decreased their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Finally, Bank of America increased their price target on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.56.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The disclosure for this sale can be found here. In the last quarter, insiders purchased 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 2.1 %

Alphabet stock opened at $123.48 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $126.43. The business’s 50-day simple moving average is $108.64 and its 200-day simple moving average is $99.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The firm has a market capitalization of $1.57 trillion, a PE ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.