Private Trust Co. NA Has $12.09 Million Stock Position in Alphabet Inc. $GOOGL

Private Trust Co. NA increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,617 shares of the information services provider’s stock after buying an additional 2,217 shares during the quarter. Alphabet accounts for about 1.2% of Private Trust Co. NA’s investment portfolio, making the stock its 9th largest position. Private Trust Co. NA’s holdings in Alphabet were worth $12,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Global Assets Advisory LLC increased its holdings in Alphabet by 244.2% during the 1st quarter. Global Assets Advisory LLC now owns 51,268 shares of the information services provider’s stock valued at $7,866,000 after purchasing an additional 36,374 shares in the last quarter. RAM Investment Partners LLC increased its holdings in Alphabet by 7.6% during the 1st quarter. RAM Investment Partners LLC now owns 9,157 shares of the information services provider’s stock valued at $1,416,000 after purchasing an additional 643 shares in the last quarter. Finally, Balance Wealth LLC acquired a new stake in Alphabet during the 1st quarter valued at $272,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 3.6%

Shares of Alphabet stock opened at $269.27 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $270.14. The business has a fifty day simple moving average of $238.03 and a 200 day simple moving average of $196.63. The stock has a market cap of $3.26 trillion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer raised their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Cantor Fitzgerald lifted their target price on Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Morgan Stanley set a $270.00 target price on Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, DA Davidson lifted their target price on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $264.34.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. 11.64% of the stock is owned by corporate insiders.

About Alphabet

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.