Alphabet Inc. (GOOGL) is Hemenway Trust Co LLC’s 7th Largest Position
Hemenway Trust Co LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,533 shares of the information services provider’s stock after buying an additional 331 shares during the period. Alphabet makes up approximately 3.2% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 7th largest position. Hemenway Trust Co LLC’s holdings in Alphabet were worth $14,441,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Alphabet during the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet during the first quarter valued at $108,000. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the last quarter. Farmers National Bank increased its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 33.87% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded down 0.0232% during midday trading on Friday, hitting $955.0185. 490,182 shares of the stock were exchanged. The stock has a market cap of $661.71 billion, a P/E ratio of 34.6109 and a beta of 0.99. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The stock’s 50-day moving average price is $951.38 and its 200 day moving average price is $919.39.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the firm posted $8.42 EPS. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.
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Several equities research analysts recently weighed in on GOOGL shares. Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a research note on Friday, June 30th. SunTrust Banks, Inc. started coverage on shares of Alphabet in a research note on Tuesday, August 15th. They set a “buy” rating and a $1,100.00 target price on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Wednesday, August 9th. Finally, MKM Partners reaffirmed a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,053.45.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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