PICTET BANK & TRUST Ltd Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

PICTET BANK & TRUST Ltd boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,949 shares of the information services provider’s stock after acquiring an additional 4,232 shares during the quarter. Alphabet accounts for about 4.0% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 6th biggest position. PICTET BANK & TRUST Ltd’s holdings in Alphabet were worth $3,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bornite Capital Management LP bought a new stake in Alphabet during the first quarter worth about $16,688,000. Markel Corp grew its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank grew its stake in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its stake in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Up 2.1 %

NASDAQ GOOGL opened at $123.48 on Friday. 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 company has a market capitalization of $1.57 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10. Alphabet Inc. has a one year low of $83.34 and a one year high of $126.43. The stock has a 50 day moving average price of $108.64 and a 200-day moving average price of $99.13.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period last year, the company earned $1.23 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total transaction of $1,242,337.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of Alphabet stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $14.13, for a total value of $1,242,337.86. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Rosenblatt Securities decreased their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Raymond James increased their price objective on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Evercore ISI increased their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Finally, 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $130.56.

Alphabet 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.