Truist Financial Corp Has $549.74 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Truist Financial Corp decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,900,834 shares of the information services provider’s stock after selling 629,149 shares during the period. Alphabet makes up 0.9% of Truist Financial Corp’s holdings, making the stock its 18th biggest holding. Truist Financial Corp’s holdings in Alphabet were worth $549,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet during the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet during the third quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 10.0 %

NASDAQ:GOOG opened at $173.69 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a 50-day moving average of $149.12 and a 200-day moving average of $142.77. The company has a market cap of $2.16 trillion, a PE ratio of 26.64, a PEG ratio of 1.60 and a beta of 1.05. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the firm posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $165.67.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 12.99% 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.