Greenleaf Trust Sells 3,988 Shares of Alphabet Inc. (NASDAQ:GOOG)

Greenleaf Trust reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 423,956 shares of the information services provider’s stock after selling 3,988 shares during the quarter. Alphabet makes up about 0.6% of Greenleaf Trust’s portfolio, making the stock its 12th largest position. Greenleaf Trust’s holdings in Alphabet were worth $70,881,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Alphabet by 17.2% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 46,153 shares of the information services provider’s stock valued at $7,716,000 after buying an additional 6,782 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its stake in shares of Alphabet by 23.3% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,497 shares of the information services provider’s stock valued at $919,000 after buying an additional 1,037 shares in the last quarter. Elevated Capital Advisors LLC lifted its stake in shares of Alphabet by 2.5% in the third quarter. Elevated Capital Advisors LLC now owns 16,926 shares of the information services provider’s stock valued at $2,830,000 after buying an additional 417 shares in the last quarter. Lazari Capital Management Inc. lifted its stake in shares of Alphabet by 10.1% in the third quarter. Lazari Capital Management Inc. now owns 2,928 shares of the information services provider’s stock valued at $490,000 after buying an additional 268 shares in the last quarter. Finally, Community Trust & Investment Co. raised its holdings in shares of Alphabet by 0.6% in the third quarter. Community Trust & Investment Co. now owns 396,587 shares of the information services provider’s stock valued at $66,305,000 after purchasing an additional 2,229 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $164.48 on Thursday. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. The firm’s 50-day moving average is $163.28 and its 200 day moving average is $169.92. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. Alphabet’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.90.

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.