Community Trust & Investment Co. Raises Stake in Alphabet Inc. (GOOG)
Community Trust & Investment Co. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 37,019 shares of the information services provider’s stock after buying an additional 1,008 shares during the period. Alphabet comprises 3.6% of Community Trust & Investment Co.’s holdings, making the stock its 3rd largest position. Community Trust & Investment Co.’s holdings in Alphabet were worth $30,709,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Community Financial Services Group LLC increased its stake in Alphabet by 1.2% in the first quarter. Community Financial Services Group LLC now owns 2,093 shares of the information services provider’s stock worth $1,736,000 after buying an additional 24 shares in the last quarter. City Financial Investment Co Ltd purchased a new stake in Alphabet during the first quarter worth $3,135,000. Sanders Capital LLC increased its stake in Alphabet by 37.1% in the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after buying an additional 324,596 shares in the last quarter. Bank of Nova Scotia increased its stake in Alphabet by 240.4% in the first quarter. Bank of Nova Scotia now owns 67,973 shares of the information services provider’s stock worth $56,388,000 after buying an additional 48,004 shares in the last quarter. Finally, BSW Wealth Partners increased its stake in Alphabet by 11.9% in the first quarter. BSW Wealth Partners now owns 328 shares of the information services provider’s stock worth $272,000 after buying an additional 35 shares in the last quarter. 34.57% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.71% during trading on Wednesday, reaching $928.77. The company’s stock had a trading volume of 340,392 shares. The stock has a market cap of $643.53 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. The stock’s 50 day moving average price is $934.57 and its 200-day moving average price is $891.34. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the business posted $8.42 EPS. The business’s revenue was up 21.0% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
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A number of research firms have recently weighed in on GOOG. Cowen and Company reissued an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a report on Thursday, August 10th. MKM Partners reissued a “buy” rating and set a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. Piper Jaffray Companies reissued an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a report on Wednesday, August 9th. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,057.00 target price for the company in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,026.22.
In other news, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,213,692.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the transaction, the chief executive officer now owns 2,058 shares of the company’s stock, valued at approximately $2,019,824.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,169 shares of company stock valued at $40,499,322. Company insiders own 13.92% of the company’s stock.
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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