Alphabet Inc. (NASDAQ:GOOG) is Raymond James Trust N.A.’s 10th Largest Position

Raymond James Trust N.A. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 322,556 shares of the information services provider’s stock after selling 4,587 shares during the period. Alphabet accounts for approximately 1.2% of Raymond James Trust N.A.’s portfolio, making the stock its 10th largest holding. Raymond James Trust N.A.’s holdings in Alphabet were worth $53,928,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. M&G PLC bought a new position in Alphabet in the 3rd quarter worth about $2,240,000. Colonial River Wealth Management LLC boosted its position in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the period. Metis Global Partners LLC grew its stake in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after acquiring an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $169.49 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The firm has a market cap of $2.07 trillion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. The business has a 50 day moving average price of $168.93 and a 200-day moving average price of $171.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

About Alphabet

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.