First Citizens Bank & Trust Co. Purchases 274 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Citizens Bank & Trust Co. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,330 shares of the information services provider’s stock after acquiring an additional 274 shares during the quarter. Alphabet comprises 0.4% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 22nd biggest holding. First Citizens Bank & Trust Co.’s holdings in Alphabet were worth $27,296,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the period. Iron Horse Wealth Management LLC increased its stake in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $76,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,887 shares of company stock valued at $22,470,464. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $197.07 on Wednesday. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.14, a PEG ratio of 1.27 and a beta of 0.99. 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 stock’s 50 day moving average price is $188.29 and its 200-day moving average price is $175.13. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

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.