Argent Trust Co Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Argent Trust Co boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,930 shares of the information services provider’s stock after purchasing an additional 136 shares during the period. Alphabet comprises about 1.2% of Argent Trust Co’s portfolio, making the stock its 18th biggest holding. Argent Trust Co’s holdings in Alphabet were worth $16,404,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth $2,118,088,000. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 28.9% during the first quarter. JPMorgan Chase & Co. now owns 3,594,116 shares of the information services provider’s stock worth $7,434,896,000 after acquiring an additional 804,739 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Alphabet by 537.3% during the fourth quarter. Cibc World Markets Corp now owns 725,784 shares of the information services provider’s stock worth $1,271,486,000 after acquiring an additional 611,904 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of Alphabet by 353.4% during the first quarter. CIBC World Markets Inc. now owns 626,878 shares of the information services provider’s stock worth $1,296,779,000 after acquiring an additional 488,608 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its position in shares of Alphabet by 85.6% during the fourth quarter. Egerton Capital UK LLP now owns 675,668 shares of the information services provider’s stock worth $1,183,689,000 after acquiring an additional 311,706 shares in the last quarter. Institutional investors and hedge funds own 31.73% of the company’s stock.

Shares of NASDAQ:GOOG traded down $7.06 on Friday, reaching $2,514.54. 37,226 shares of the company traded hands, compared to its average volume of 1,477,568. The business has a 50-day simple moving average of $2,344.39. Alphabet Inc. has a 52 week low of $1,347.01 and a 52 week high of $2,523.26. The stock has a market capitalization of $1.69 trillion, a PE ratio of 33.57, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 3.09.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.74 by $10.55. The firm had revenue of $55.30 billion for the quarter, compared to analysts’ expectations of $51.40 billion. Alphabet had a return on equity of 23.54% and a net margin of 26.11%. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period last year, the firm earned $9.87 earnings per share. On average, analysts expect that Alphabet Inc. will post 89.46 earnings per share for the current fiscal year.

In other news, Director Sergey Brin sold 13,889 shares of the stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $2,301.36, for a total transaction of $31,963,589.04. Following the completion of the sale, the director now directly owns 13,889 shares in the company, valued at $31,963,589.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 70 shares of the stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $2,449.71, for a total transaction of $171,479.70. Following the sale, the director now owns 128 shares of the company’s stock, valued at $313,562.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,998 shares of company stock valued at $132,704,290. 12.99% of the stock is currently owned by company insiders.

GOOG has been the topic of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $2,525.00 price target on shares of Alphabet in a report on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alphabet from $2,600.00 to $3,050.00 and gave the stock a “buy” rating in a report on Wednesday, April 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Finally, Mizuho upped their price target on shares of Alphabet from $2,350.00 to $2,600.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Three equities 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’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $2,495.63.

Alphabet Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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