Fiduciary Trust Co Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Fiduciary Trust Co boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 364,554 shares of the information services provider’s stock after acquiring an additional 17,463 shares during the quarter. Alphabet comprises approximately 0.9% of Fiduciary Trust Co’s portfolio, making the stock its 24th biggest holding. Fiduciary Trust Co’s holdings in Alphabet were worth $60,950,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter worth about $37,000. HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the 2nd quarter worth about $44,000. Finally, Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOG shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Up 0.1 %

NASDAQ GOOG opened at $170.82 on Thursday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The firm’s 50 day moving average price is $169.71 and its two-hundred day moving average price is $171.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.18 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.