Alphabet Inc. (NASDAQ:GOOGL) is Perkins Coie Trust Co’s 7th Largest Position

Perkins Coie Trust Co cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,541 shares of the information services provider’s stock after selling 586 shares during the quarter. Alphabet makes up approximately 2.3% of Perkins Coie Trust Co’s holdings, making the stock its 7th largest holding. Perkins Coie Trust Co’s holdings in Alphabet were worth $10,372,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.4 %

GOOGL stock opened at $162.93 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 24.99, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company’s 50 day simple moving average is $161.77 and its 200-day simple moving average is $168.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Piper Sandler restated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

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.