Private Trust Co. NA Sells 784 Shares of Alphabet Inc. $GOOG

Private Trust Co. NA cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,471 shares of the information services provider’s stock after selling 784 shares during the quarter. Alphabet makes up about 0.7% of Private Trust Co. NA’s investment portfolio, making the stock its 19th largest position. Private Trust Co. NA’s holdings in Alphabet were worth $7,002,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. RDA Financial Network increased its position in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Tower View Wealth Management LLC increased its position in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet during the 2nd quarter valued at about $213,000. Truist Financial Corp boosted its holdings in Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC boosted its holdings in Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,372 shares of company stock worth $55,110,740 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a report on Thursday, October 9th. Morgan Stanley increased their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Six investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.68.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $253.79 on Monday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $232.18 and a two-hundred day simple moving average of $193.25. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.