Whittier Trust Co. Has $267.22 Million Stake in Alphabet Inc. $GOOG

Whittier Trust Co. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,506,419 shares of the information services provider’s stock after purchasing an additional 87,075 shares during the period. Alphabet makes up 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 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Lafayette Investments Inc. raised its stake in shares of Alphabet by 2.6% during the second quarter. Lafayette Investments Inc. now owns 73,290 shares of the information services provider’s stock valued at $13,001,000 after acquiring an additional 1,891 shares during the last quarter. BG Investment Services Inc. bought a new position in shares of Alphabet during the second quarter valued at about $275,000. Syntegra Private Wealth Group LLC raised its stake in shares of Alphabet by 2.4% during the second quarter. Syntegra Private Wealth Group LLC now owns 2,866 shares of the information services provider’s stock valued at $508,000 after acquiring an additional 66 shares during the last quarter. Probity Advisors Inc. raised its stake in shares of Alphabet by 8.4% during the second quarter. Probity Advisors Inc. now owns 8,565 shares of the information services provider’s stock valued at $1,519,000 after acquiring an additional 666 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. raised its stake in shares of Alphabet by 77.4% during the second quarter. Mid American Wealth Advisory Group Inc. now owns 3,134 shares of the information services provider’s stock valued at $556,000 after acquiring an additional 1,367 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given 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 target price of $246.26.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $253.73 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50-day moving average is $236.22 and its 200 day moving average is $195.53. The stock has a market capitalization of $3.07 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 12.99% of the company’s stock.

Alphabet 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.