Whittier Trust Co. Raises Stake in Alphabet Inc. $GOOG

Whittier Trust Co. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,506,419 shares of the information services provider’s stock after buying an additional 87,075 shares during the quarter. Alphabet accounts for 3.2% of Whittier Trust Co.’s portfolio, making the stock its 5th largest position. Whittier Trust Co.’s holdings in Alphabet were worth $267,223,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $26,000. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Finally, Fairman Group LLC grew its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.5%

GOOG opened at $253.73 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88. The company has a market capitalization of $3.07 trillion, a PE ratio of 27.02, a PEG ratio of 1.70 and a beta of 1.00. The firm’s 50 day simple moving average is $236.22 and its two-hundred day simple moving average is $195.53.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $246.26.

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.