Country Trust Bank reduced its holdings in Alphabet Inc (NASDAQ:GOOG) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,987 shares of the information services provider’s stock after selling 307 shares during the quarter. Alphabet accounts for about 2.1% of Country Trust Bank’s investment portfolio, making the stock its 10th largest holding. Country Trust Bank’s holdings in Alphabet were worth $55,826,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. increased its holdings in shares of Alphabet by 6.4% in the first quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock worth $5,534,000 after acquiring an additional 285 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Alphabet in the second quarter worth about $11,845,000. Adams Asset Advisors LLC bought a new stake in shares of Alphabet in the second quarter worth about $1,484,000. Telemus Capital LLC increased its holdings in shares of Alphabet by 2.6% in the second quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock worth $12,193,000 after acquiring an additional 198 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Alphabet by 11.9% in the first quarter. Mercer Global Advisors Inc. ADV now owns 7,487 shares of the information services provider’s stock worth $8,706,000 after acquiring an additional 798 shares in the last quarter. Institutional investors own 32.42% of the company’s stock.
Several equities research analysts have issued reports on the company. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. KeyCorp initiated coverage on Alphabet in a report on Monday, September 14th. They set an “overweight” rating for the company. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,703.33.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, analysts expect that Alphabet Inc will post 44.84 earnings per share for the current year.
In related news, Director Ann Mather sold 22 shares of Alphabet stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the completion of the sale, the director now directly owns 1,134 shares of the company’s stock, valued at approximately $1,683,162.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total value of $92,297.40. Following the sale, the director now directly owns 517 shares of the company’s stock, valued at $795,295.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142 shares of company stock valued at $213,357. Insiders own 12.99% of the company’s stock.
Alphabet Company 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.
Recommended Story: The Role of a Fiduciary and Individual Investors
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).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.