Watch Point Trust Co Has $2.96 Million Holdings in Alphabet Inc (NASDAQ:GOOG)

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Watch Point Trust Co lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,431 shares of the information services provider’s stock after selling 50 shares during the quarter. Watch Point Trust Co’s holdings in Alphabet were worth $2,963,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after acquiring an additional 259,979 shares during the last quarter. BlackRock Inc. increased its position in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after acquiring an additional 612,804 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 6.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock valued at $12,409,352,000 after acquiring an additional 674,924 shares during the last quarter. Northern Trust Corp increased its position in shares of Alphabet by 0.8% in the second quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock valued at $4,539,702,000 after acquiring an additional 31,873 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Alphabet by 5.7% in the second quarter. Invesco Ltd. now owns 3,715,122 shares of the information services provider’s stock valued at $4,015,713,000 after acquiring an additional 199,097 shares during the last quarter. 33.78% of the stock is currently owned by institutional investors and hedge funds.

In other Alphabet news, SVP David C. Drummond sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1,179.44, for a total transaction of $1,887,104.00. Following the completion of the transaction, the senior vice president now directly owns 44,482 shares in the company, valued at $52,463,850.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 54 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $1,191.53, for a total transaction of $64,342.62. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at $462,313.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,043 shares of company stock valued at $40,364,988. Company insiders own 12.99% of the company’s stock.

GOOG has been the topic of a number of recent research reports. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, October 29th. Cowen lifted their price target on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Monday, October 28th. Mizuho lifted their price target on Alphabet from $1,400.00 to $1,450.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Wedbush lifted their price target on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,460.27.

Shares of NASDAQ:GOOG traded up $2.51 during trading on Friday, reaching $1,311.37. 1,251,300 shares of the stock were exchanged, compared to its average volume of 1,446,592. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,323.74. The firm has a market cap of $895.89 billion, a PE ratio of 27.60, a PEG ratio of 1.58 and a beta of 1.00. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $1,241.41 and a 200-day moving average price of $1,179.65.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the consensus estimate of $12.57 by ($2.45). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. During the same quarter in the prior year, the firm earned $13.06 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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