Private Trust Co. NA Sells 784 Shares of Alphabet Inc. $GOOG

by · The Markets Daily

Private Trust Co. NA lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,471 shares of the information services provider’s stock after selling 784 shares during the period. Alphabet makes up about 0.7% of Private Trust Co. NA’s investment portfolio, making the stock its 19th largest holding. Private Trust Co. NA’s holdings in Alphabet were worth $7,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter valued at approximately $26,000. IFS Advisors LLC increased its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley increased its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Fairman Group LLC increased its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $253.79 on Monday. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s fifty day moving average price is $232.18 and its 200-day moving average price is $193.25.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOG shares. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Raymond James Financial reissued an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.68.

Check Out Our Latest Report on GOOG

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,372 shares of company stock valued at $55,110,740. 12.99% of the stock is owned by company insiders.

Alphabet 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.

See Also

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).