FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.89 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 710 shares of the information services provider’s stock after purchasing an additional 35 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Alphabet were worth $1,892,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Liberty Wealth Management LLC raised its stake in Alphabet by 249,281.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,249,401 shares of the information services provider’s stock worth $499,000 after buying an additional 1,248,900 shares during the period. Amundi acquired a new stake in Alphabet during the 2nd quarter worth $2,732,669,000. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,993,372 shares of the information services provider’s stock worth $35,071,868,000 after buying an additional 708,879 shares during the period. GQG Partners LLC raised its stake in Alphabet by 64.8% during the 2nd quarter. GQG Partners LLC now owns 1,123,034 shares of the information services provider’s stock worth $2,813,907,000 after buying an additional 441,546 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Alphabet by 9.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,920,416 shares of the information services provider’s stock worth $9,825,819,000 after buying an additional 326,300 shares during the period. 31.26% of the stock is currently owned by institutional investors.

GOOG has been the topic of several research analyst reports. Cowen raised their price objective on Alphabet from $2,900.00 to $3,300.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Truist Securities increased their target price on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Guggenheim increased their target price on Alphabet from $2,850.00 to $3,140.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Raymond James increased their target price on Alphabet from $3,200.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 27th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares raised their price objective on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Two equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $3,178.21.

In other Alphabet news, Director Ann Mather sold 17 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $2,918.99, for a total transaction of $49,622.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $2,925.63, for a total transaction of $8,776,890.00. The disclosure for this sale can be found here. In the last three months, insiders sold 222,928 shares of company stock worth $501,867,436. Insiders own 12.99% of the company’s stock.

Shares of GOOG traded down $0.79 during mid-day trading on Thursday, reaching $2,934.35. The stock had a trading volume of 823,203 shares, compared to its average volume of 1,279,240. The firm has a market cap of $1.95 trillion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.07 and a beta of 1.04. Alphabet Inc. has a 12 month low of $1,699.00 and a 12 month high of $3,037.00. The business has a fifty day moving average of $2,859.80 and a 200 day moving average of $2,705.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 2.98.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping the consensus estimate of $23.13 by $4.86. The firm had revenue of $65.12 billion for the quarter, compared to the consensus estimate of $63.35 billion. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The company’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $16.40 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 107.86 EPS for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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