Alphabet Inc (GOOG) Stake Lowered by Fiduciary Trust Co.

Fiduciary Trust Co. lessened its position in shares of Alphabet Inc (NASDAQ:GOOG) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,876 shares of the information services provider’s stock after selling 1,050 shares during the period. Fiduciary Trust Co.’s holdings in Alphabet were worth $25,777,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares in the last quarter. FMR LLC lifted its stake in shares of Alphabet by 0.4% during the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after purchasing an additional 62,507 shares in the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Alphabet by 3.2% during the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares in the last quarter. 34.65% of the stock is owned by hedge funds and other institutional investors.

GOOG has been the topic of a number of recent research reports. SunTrust Banks restated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Saturday, September 23rd. Robert W. Baird restated an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Saturday, September 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,100.00 price target on shares of Alphabet in a research note on Saturday, September 23rd. Bank of America reiterated a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,052.31.

Alphabet Inc (NASDAQ GOOG) opened at $1,122.26 on Tuesday. Alphabet Inc has a fifty-two week low of $790.52 and a fifty-two week high of $1,124.29. The stock has a market capitalization of $782,650.00, a P/E ratio of 37.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. During the same period in the prior year, the company posted $9.06 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total value of $3,974,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,471 shares in the company, valued at $1,461,556.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total value of $191,846.22. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock valued at $37,877,147 over the last three months. Corporate insiders own 13.92% of the company’s stock.

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About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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