Private Trust Co. NA Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Private Trust Co. NA lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,631 shares of the information services provider’s stock after acquiring an additional 2,458 shares during the period. Alphabet makes up approximately 0.7% of Private Trust Co. NA’s portfolio, making the stock its 20th largest position. Private Trust Co. NA’s holdings in Alphabet were worth $6,960,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Hancock Whitney Corp boosted its holdings in shares of Alphabet by 0.9% in the third quarter. Hancock Whitney Corp now owns 22,040 shares of the information services provider’s stock worth $3,685,000 after buying an additional 195 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Alphabet by 16.9% in the 3rd quarter. Truvestments Capital LLC now owns 9,315 shares of the information services provider’s stock worth $1,557,000 after purchasing an additional 1,350 shares in the last quarter. Alliance Wealth Management Group lifted its position in Alphabet by 3.8% during the third quarter. Alliance Wealth Management Group now owns 4,060 shares of the information services provider’s stock valued at $679,000 after purchasing an additional 150 shares in the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in Alphabet by 1.5% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 4,848 shares of the information services provider’s stock valued at $810,000 after purchasing an additional 70 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in Alphabet by 62.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 157,622 shares of the information services provider’s stock worth $26,351,000 after buying an additional 60,325 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.7 %

NASDAQ:GOOG traded up $2.75 during trading hours on Monday, reaching $169.32. The company’s stock had a trading volume of 3,897,772 shares, compared to its average volume of 19,577,766. The stock has a 50 day moving average price of $169.10 and a two-hundred day moving average price of $171.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.07 trillion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOG. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 over the last 90 days. Insiders own 12.99% of the company’s stock.

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.