Plimoth Trust Co. LLC Has $9.14 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Plimoth Trust Co. LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,440 shares of the information services provider’s stock after buying an additional 252 shares during the quarter. Alphabet comprises approximately 2.6% of Plimoth Trust Co. LLC’s holdings, making the stock its 5th largest position. Plimoth Trust Co. LLC’s holdings in Alphabet were worth $9,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Live Oak Investment Partners bought a new position in shares of Alphabet in the fourth quarter worth $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the fourth quarter worth $34,000. Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet in the third quarter worth $38,000. Meritage Group LP grew its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.3 %

GOOGL opened at $154.40 on Wednesday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The business has a 50-day moving average of $145.76 and a 200-day moving average of $140.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business earned $1.05 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 228,839 shares of company stock valued at $32,835,757 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Truist Financial decreased their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Mizuho raised their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Redburn Atlantic raised their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.