Alphabet Inc (GOOG) Stake Lowered by Intrust Bank NA

Intrust Bank NA lessened its stake in Alphabet Inc (NASDAQ:GOOG) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,477 shares of the information services provider’s stock after selling 68 shares during the quarter. Alphabet makes up 0.7% of Intrust Bank NA’s holdings, making the stock its 23rd biggest position. Intrust Bank NA’s holdings in Alphabet were worth $2,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fort Pitt Capital Group LLC boosted its holdings in shares of Alphabet by 34.7% in the 4th quarter. Fort Pitt Capital Group LLC now owns 1,014 shares of the information services provider’s stock valued at $1,050,000 after buying an additional 261 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Alphabet by 233.3% in the 4th quarter. Penserra Capital Management LLC now owns 80 shares of the information services provider’s stock valued at $82,000 after buying an additional 56 shares during the last quarter. Wealthsource Partners LLC boosted its holdings in shares of Alphabet by 54.5% in the 4th quarter. Wealthsource Partners LLC now owns 408 shares of the information services provider’s stock valued at $423,000 after buying an additional 144 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Alphabet by 2.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 288,154 shares of the information services provider’s stock valued at $298,390,000 after buying an additional 7,429 shares during the last quarter. Finally, Starfire Investment Advisers Inc. boosted its holdings in shares of Alphabet by 32.3% in the 4th quarter. Starfire Investment Advisers Inc. now owns 623 shares of the information services provider’s stock valued at $645,000 after buying an additional 152 shares during the last quarter. 34.41% of the stock is owned by institutional investors.

GOOG opened at $1,149.63 on Wednesday. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The firm has a market cap of $806.92 billion, a PE ratio of 24.20, a PEG ratio of 1.37 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.51 by $1.39. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The company had revenue of $36.34 billion during the quarter, compared to the consensus estimate of $37.36 billion. During the same quarter last year, the firm earned $9.93 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc will post 48.44 EPS for the current year.

In other news, VP Amie Thuener O’toole sold 73 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $1,167.74, for a total transaction of $85,245.02. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at $453,083.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 375 shares of Alphabet stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,200.00, for a total value of $450,000.00. Following the sale, the director now directly owns 80 shares of the company’s stock, valued at approximately $96,000. The disclosure for this sale can be found here. Insiders have sold 817 shares of company stock valued at $974,730 in the last three months. Insiders own 13.11% of the company’s stock.

GOOG has been the subject of several recent analyst reports. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, February 5th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Monday, April 29th. Deutsche Bank cut their price objective on Alphabet from $1,350.00 to $1,300.00 and set a “buy” rating for the company in a report on Wednesday, January 23rd. BidaskClub raised Alphabet from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Barclays cut their price objective on Alphabet to $1,350.00 and set an “overweight” rating for the company in a report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have given a buy rating to the company. Alphabet has an average rating of “Buy” and an average target price of $1,361.50.

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Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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