Berkshire Bank Purchases 1,815 Shares of Alphabet Inc. (NASDAQ:GOOG)

Berkshire Bank boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,382 shares of the information services provider's stock after acquiring an additional 1,815 shares during the quarter. Berkshire Bank's holdings in Alphabet were worth $1,406,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Centaurus Financial Inc. raised its position in shares of Alphabet by 111.0% during the second quarter. Centaurus Financial Inc. now owns 69,259 shares of the information services provider's stock worth $12,704,000 after purchasing an additional 36,439 shares during the period. Alternative Investment Advisors LLC. acquired a new stake in Alphabet during the 2nd quarter worth about $216,000. Ashburton Jersey Ltd purchased a new stake in Alphabet during the second quarter valued at about $23,681,000. Mattson Financial Services LLC acquired a new position in shares of Alphabet in the second quarter worth about $7,594,000. Finally, Global Wealth Strategies & Associates increased its position in shares of Alphabet by 21.4% in the third quarter. Global Wealth Strategies & Associates now owns 1,020 shares of the information services provider's stock worth $171,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 1.5 %

Alphabet stock traded up $2.97 during mid-day trading on Friday, hitting $205.60. 17,059,516 shares of the company's stock were exchanged, compared to its average volume of 16,222,196. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $207.08. The stock has a 50 day moving average of $189.70 and a two-hundred day moving average of $175.54. The stock has a market cap of $2.52 trillion, a P/E ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company's stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares of the company's stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,630 shares of company stock valued at $22,258,133 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOG shares. Wedbush reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.69.

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.