Whittier Trust Co. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,302 shares of the information services provider’s stock after buying an additional 1,807 shares during the period. Alphabet accounts for approximately 1.5% of Whittier Trust Co.’s holdings, making the stock its 9th biggest position. Whittier Trust Co.’s holdings in Alphabet were worth $44,265,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Beach Investment Management LLC. bought a new position in Alphabet in the 2nd quarter worth about $268,000. Modera Wealth Management LLC grew its position in Alphabet by 4.3% in the 2nd quarter. Modera Wealth Management LLC now owns 600 shares of the information services provider’s stock worth $545,000 after purchasing an additional 25 shares during the last quarter. State of Tennessee Treasury Department grew its position in Alphabet by 0.9% in the 2nd quarter. State of Tennessee Treasury Department now owns 225,063 shares of the information services provider’s stock worth $204,522,000 after purchasing an additional 1,920 shares during the last quarter. Pictet & Cie Europe SA grew its position in Alphabet by 6.1% in the 2nd quarter. Pictet & Cie Europe SA now owns 20,004 shares of the information services provider’s stock worth $18,178,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Community Bank & Trust Waco Texas grew its position in Alphabet by 20.0% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 1,015 shares of the information services provider’s stock worth $922,000 after purchasing an additional 169 shares during the last quarter. 34.84% of the stock is owned by institutional investors and hedge funds.
GOOG stock opened at $1,072.96 on Friday. Alphabet Inc. has a 12 month low of $840.60 and a 12 month high of $1,186.89. The company has a market cap of $755,715.44, a P/E ratio of 33.48 and a beta of 1.08. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same period in the prior year, the company earned $9.36 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis.
Alphabet announced that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
GOOG has been the subject of several recent analyst reports. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 target price for the company in a research report on Monday, March 19th. SunTrust Banks upped their target price on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Finally, Pivotal Research decreased their target price on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,088.68.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $1,077.67, for a total transaction of $4,310,680.00. Following the completion of the sale, the chief executive officer now directly owns 615 shares of the company’s stock, valued at $662,767.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 193 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $1,023.10, for a total transaction of $197,458.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,410 shares of company stock valued at $58,408,136. Company insiders own 13.92% of the company’s stock.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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