Raymond James Trust N.A. Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Raymond James Trust N.A. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,031 shares of the information services provider’s stock after purchasing an additional 100 shares during the quarter. Alphabet accounts for about 1.1% of Raymond James Trust N.A.’s investment portfolio, making the stock its 15th biggest holding. Raymond James Trust N.A.’s holdings in Alphabet were worth $28,084,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mercer Capital Advisers Inc. increased its holdings in Alphabet by 1.0% in the third quarter. Mercer Capital Advisers Inc. now owns 631 shares of the information services provider’s stock valued at $927,000 after buying an additional 6 shares in the last quarter. Bigelow Investment Advisors LLC increased its holdings in Alphabet by 0.6% in the third quarter. Bigelow Investment Advisors LLC now owns 956 shares of the information services provider’s stock valued at $1,405,000 after buying an additional 6 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in Alphabet by 4.8% in the third quarter. Johnson Financial Group Inc. now owns 130 shares of the information services provider’s stock valued at $191,000 after buying an additional 6 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Alphabet by 1.3% in the third quarter. McIlrath & Eck LLC now owns 471 shares of the information services provider’s stock valued at $692,000 after purchasing an additional 6 shares during the last quarter. Finally, Ironwood Wealth Management LLC. grew its position in shares of Alphabet by 8.7% in the third quarter. Ironwood Wealth Management LLC. now owns 75 shares of the information services provider’s stock valued at $110,000 after purchasing an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 29.94% of the company’s stock.

In other news, Director Ann Mather sold 52 shares of the business’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $1,757.54, for a total value of $91,392.08. Following the completion of the sale, the director now owns 1,117 shares of the company’s stock, valued at approximately $1,963,172.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 30 shares of the business’s stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $1,764.42, for a total transaction of $52,932.60. Following the completion of the sale, the chief accounting officer now directly owns 846 shares of the company’s stock, valued at approximately $1,492,699.32. The disclosure for this sale can be found here. Insiders sold a total of 1,564 shares of company stock valued at $2,756,038 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet stock opened at $1,754.40 on Thursday. Alphabet Inc. has a 12-month low of $1,013.54 and a 12-month high of $1,847.20. The company has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. The firm’s fifty day moving average price is $1,770.41 and its 200 day moving average price is $1,613.69.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.35 by $5.05. The firm had revenue of $46.17 billion for the quarter, compared to the consensus estimate of $42.84 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 EPS. Analysts forecast that Alphabet Inc. will post 51.54 earnings per share for the current fiscal year.

Several analysts have recently commented on GOOG shares. Credit Suisse Group reiterated an “outperform” rating and issued a $1,950.00 price target (up from $1,850.00) on shares of Alphabet in a research report on Friday, October 30th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 30th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,970.00 price target on the stock in a research report on Wednesday, December 30th. Wedbush restated an “outperform” rating and set a $1,850.00 target price (up previously from $1,700.00) on shares of Alphabet in a research report on Friday, October 30th. Finally, Raymond James raised their target price on shares of Alphabet from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,843.00.

About Alphabet

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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