BB&T Securities LLC grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 3.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 58,542 shares of the information services provider’s stock after buying an additional 1,693 shares during the period. Alphabet accounts for 0.7% of BB&T Securities LLC’s investment portfolio, making the stock its 21st largest holding. BB&T Securities LLC’s holdings in Alphabet were worth $65,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Alphabet by 0.9% during the second quarter. BlackRock Inc. now owns 19,245,773 shares of the information services provider’s stock worth $21,471,546,000 after purchasing an additional 174,333 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of Alphabet by 132,719.3% during the first quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock worth $18,680,000 after purchasing an additional 18,665,638 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 3,644,595 shares of the information services provider’s stock worth $4,066,096,000 after purchasing an additional 27,153 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Alphabet by 1.4% during the second quarter. Janus Henderson Group PLC now owns 3,335,851 shares of the information services provider’s stock worth $3,721,677,000 after purchasing an additional 47,303 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in shares of Alphabet by 684.2% during the first quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock worth $2,182,080,000 after purchasing an additional 1,845,160 shares during the last quarter. 34.04% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the company. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Raymond James reiterated an “outperform” rating and issued a $1,405.00 target price (up from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. Royal Bank of Canada upped their target price on Alphabet from $1,285.00 to $1,400.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Wells Fargo & Co reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Finally, Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,301.81.

In other Alphabet news, SVP David C. Drummond sold 5,690 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $1,065.50, for a total transaction of $6,062,695.00. Following the transaction, the senior vice president now directly owns 42,558 shares in the company, valued at approximately $45,345,549. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,192.12, for a total value of $11,921,200.00. Following the transaction, the chief executive officer now owns 871 shares in the company, valued at $1,038,336.52. The disclosure for this sale can be found here. Insiders have sold a total of 67,359 shares of company stock worth $76,841,496 over the last 90 days. Company insiders own 13.11% of the company’s stock.

Alphabet stock opened at $1,036.05 on Wednesday. The company has a market cap of $741.91 billion, a price-to-earnings ratio of 23.99 and a beta of 1.16. Alphabet Inc has a 52-week low of $980.64 and a 52-week high of $1,273.89. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The firm had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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