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
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
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.
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