Whittier Trust Co. of Nevada Inc. Sells 541 Shares of Alphabet Inc. $GOOGL

Whittier Trust Co. of Nevada Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,335 shares of the information services provider’s stock after selling 541 shares during the quarter. Alphabet makes up 0.7% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 29th biggest position. Whittier Trust Co. of Nevada Inc.’s holdings in Alphabet were worth $30,018,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. increased its stake in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. JPMorgan Chase & Co. raised their price target on Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their price target on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Roth Capital raised their price target on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.98.

Alphabet Stock Performance

Shares of GOOGL stock opened at $281.31 on Friday. The company has a 50 day moving average price of $244.00 and a 200-day moving average price of $199.68. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The firm has a market capitalization of $3.40 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. 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 (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.64% 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.