Griffin Asset Management Inc. Has $6.67 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Griffin Asset Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,870 shares of the information services provider’s stock after selling 200 shares during the period. Griffin Asset Management Inc.’s holdings in Alphabet were worth $6,666,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOG. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $34,000. Duncan Williams Asset Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $289,000. Trust Co. of Toledo NA OH lifted its holdings in Alphabet by 2.8% during the 1st quarter. Trust Co. of Toledo NA OH now owns 38,318 shares of the information services provider’s stock worth $5,834,000 after buying an additional 1,043 shares in the last quarter. Advance Capital Management Inc. lifted its holdings in Alphabet by 58.7% during the 1st quarter. Advance Capital Management Inc. now owns 6,299 shares of the information services provider’s stock worth $959,000 after buying an additional 2,330 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in Alphabet by 1.0% in the 1st quarter. Moody National Bank Trust Division now owns 41,187 shares of the information services provider’s stock valued at $6,271,000 after buying an additional 395 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale 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 stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,926 shares of company stock worth $32,251,590 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of NASDAQ GOOG opened at $166.90 on Wednesday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $163.05 and its 200-day moving average is $169.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOG shares. Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $186.90.

About Alphabet

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.