Alphabet Inc. (NASDAQ:GOOG) Position Raised by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 327,143 shares of the information services provider’s stock after purchasing an additional 17,150 shares during the quarter. Alphabet comprises 1.4% of Raymond James Trust N.A.’s portfolio, making the stock its 8th biggest holding. Raymond James Trust N.A.’s holdings in Alphabet were worth $60,005,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Park Avenue Securities LLC lifted its stake in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC lifted its stake in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares during the last quarter. Investment Partners LTD. boosted its holdings in Alphabet by 5.8% during the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares during the period. Apexium Financial LP increased its stake in Alphabet by 335.9% in the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after purchasing an additional 41,476 shares during the period. Finally, Oak Ridge Investments LLC lifted its position in shares of Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $182.86.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOG traded up $0.60 during midday trading on Monday, reaching $168.03. 1,845,771 shares of the company’s stock traded hands, compared to its average volume of 20,196,561. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s 50 day simple moving average is $176.34 and its 200-day simple moving average is $164.76. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is currently owned by insiders.

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.