Associated Banc Corp Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Associated Banc Corp grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% during the 4th quarter, Holdings Channel reports. The fund owned 698,823 shares of the information services provider’s stock after buying an additional 7,452 shares during the period. Alphabet comprises 2.6% of Associated Banc Corp’s portfolio, making the stock its 3rd biggest holding. Associated Banc Corp’s holdings in Alphabet were worth $61,657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. FourThought Financial Partners LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $5,415,000. Glenview Trust Co raised its position in shares of Alphabet by 10.7% during the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after purchasing an additional 44,278 shares during the period. Willow Creek Wealth Management Inc. raised its position in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after purchasing an additional 17,631 shares during the period. Bfsg LLC raised its position in shares of Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the period. Finally, Ibex Investors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $2,617,000. 34.06% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.1 %

NASDAQ GOOGL opened at $123.48 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.57 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10. The company has a 50 day moving average price of $108.64 and a 200 day moving average price of $99.13. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $126.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the firm earned $1.23 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Monday, April 3rd. Wolfe Research lifted their price target on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Roth Mkm lifted their price target on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Loop Capital cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Monday, May 15th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.56.

Insider Activity

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 753,384 shares valued at $30,574,577. Insiders own 0.88% of the company’s stock.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.