Trustco Bank Corp N Y Has $624,000 Stock Position in Alphabet Inc. $GOOG

Trustco Bank Corp N Y raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,516 shares of the information services provider’s stock after buying an additional 200 shares during the period. Trustco Bank Corp N Y’s holdings in Alphabet were worth $624,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC grew its holdings in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Alphabet in the first quarter valued at $369,713,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. TD Cowen upped their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Wolfe Research raised their price objective on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 target price on shares of Alphabet in a report on Thursday, October 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.9%

Shares of NASDAQ:GOOG opened at $279.12 on Friday. The company has a market capitalization of $3.37 trillion, a P/E ratio of 27.53, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50 day simple moving average is $257.00 and its 200 day simple moving average is $208.69. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

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.