BBVA USA Bancshares Inc. Sells 299 Shares of Alphabet Inc (NASDAQ:GOOG)

BBVA USA Bancshares Inc. cut its position in shares of Alphabet Inc (NASDAQ:GOOG) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,751 shares of the information services provider’s stock after selling 299 shares during the period. Alphabet comprises 0.8% of BBVA USA Bancshares Inc.’s portfolio, making the stock its 24th biggest position. BBVA USA Bancshares Inc.’s holdings in Alphabet were worth $14,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. State Street Corp raised its position in shares of Alphabet by 0.8% in the 1st quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after acquiring an additional 98,084 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Alphabet by 6.1% in the 1st quarter. APG Asset Management N.V. now owns 359,571 shares of the information services provider’s stock worth $418,113,000 after acquiring an additional 20,631 shares in the last quarter. Modus Advisors LLC raised its position in shares of Alphabet by 12.1% in the 2nd quarter. Modus Advisors LLC now owns 1,136 shares of the information services provider’s stock worth $1,606,000 after acquiring an additional 123 shares in the last quarter. Smithbridge Asset Management Inc. DE raised its position in shares of Alphabet by 22.5% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 1,069 shares of the information services provider’s stock worth $1,511,000 after acquiring an additional 196 shares in the last quarter. Finally, First Financial Bank Trust Division raised its position in shares of Alphabet by 2.8% in the 2nd quarter. First Financial Bank Trust Division now owns 546 shares of the information services provider’s stock worth $771,000 after acquiring an additional 15 shares in the last quarter. 32.42% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet stock opened at $1,567.24 on Friday. The firm has a market capitalization of $1,065.98 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.11 and a beta of 1.10. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The stock has a 50 day moving average of $1,516.08 and a 200 day moving average of $1,465.28.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 29th. The information services provider reported $16.40 EPS for the quarter, topping the consensus estimate of $11.35 by $5.05. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The business had revenue of $46.17 billion during the quarter, compared to analyst estimates of $42.84 billion. During the same period last year, the business posted $10.12 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts forecast that Alphabet Inc will post 44.93 EPS for the current year.

In other news, Director Ann Mather sold 22 shares of Alphabet stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the sale, the director now owns 1,134 shares in the company, valued at $1,683,162.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total value of $88,405.80. Following the sale, the director now owns 548 shares in the company, valued at approximately $807,439.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142 shares of company stock valued at $213,357. Company insiders own 12.99% of the company’s stock.

GOOG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Alphabet from $1,975.00 to $2,020.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Cleveland Research raised Alphabet to a “buy” rating in a research report on Friday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, October 20th. Pivotal Research upped their target price on Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,720.45.

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.

Featured Article: Stock Portfolio Tracker

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.