Whittier Trust Co. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

by · The Cerbat Gem

Whittier Trust Co. lifted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,419,344 shares of the information services provider’s stock after buying an additional 9,815 shares during the period. Alphabet comprises about 3.1% of Whittier Trust Co.’s investment portfolio, making the stock its 6th biggest position. Whittier Trust Co.’s holdings in Alphabet were worth $221,744,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter worth approximately $5,166,070,000. GAMMA Investing LLC boosted its stake in shares of Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $1,551,533,000. Northern Trust Corp raised its position in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC lifted its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,443 shares of company stock valued at $36,298,548 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $182.81 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 20.38, a P/E/G ratio of 1.27 and a beta of 1.01. The business has a fifty day simple moving average of $171.84 and a two-hundred day simple moving average of $174.68. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOOG shares. Raymond James Financial reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, July 9th. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and six have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.13.

Check Out Our Latest Report on Alphabet

Alphabet Company Profile

(Free Report)

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.

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