Private Trust Co. NA Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Private Trust Co. NA grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,631 shares of the information services provider’s stock after purchasing an additional 2,458 shares during the period. Alphabet comprises 0.7% of Private Trust Co. NA’s investment portfolio, making the stock its 20th biggest position. Private Trust Co. NA’s holdings in Alphabet were worth $6,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at about $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

Alphabet stock traded up $2.75 during mid-day trading on Monday, reaching $169.32. The company had a trading volume of 3,897,772 shares, compared to its average volume of 19,577,766. The stock’s 50-day simple moving average is $169.10 and its 200-day simple moving average is $171.87. The company has a market capitalization of $2.07 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Alphabet Company Profile

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.