Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Berkshire Bank

Berkshire Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,700 shares of the information services provider’s stock after selling 683 shares during the quarter. Alphabet accounts for approximately 3.0% of Berkshire Bank’s portfolio, making the stock its 8th largest holding. Berkshire Bank’s holdings in Alphabet were worth $13,005,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. LMR Partners LLP acquired a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Denver PWM LLC lifted its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $66,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.4 %

Shares of GOOGL opened at $201.23 on Tuesday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $205.48. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.31 and a beta of 0.99. The stock’s 50-day moving average price is $188.97 and its 200 day moving average price is $174.03.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Monday, January 27th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,529 shares of company stock worth $22,453,483. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.