Bank of Jackson Hole Trust Buys 400 Shares of Alphabet Inc. $GOOG

Bank of Jackson Hole Trust boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.3% during the second quarter, Holdings Channel.com reports. The firm owned 4,277 shares of the information services provider’s stock after purchasing an additional 400 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Alphabet were worth $759,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new stake in Alphabet during the first quarter valued at about $2,622,943,000. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new stake in Alphabet during the first quarter valued at about $369,713,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 2.4%

Alphabet stock opened at $281.90 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The stock has a 50-day moving average price of $243.09 and a 200 day moving average price of $199.85.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Piper Sandler raised their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer raised their price target on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday. DA Davidson set a $825.00 price target on Alphabet in a report on Monday. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday. Finally, Scotiabank set a $336.00 price target on Alphabet and gave the stock a “sector outperform” rating in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by insiders.

Alphabet Company 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.