AMG National Trust Bank Boosts Holdings in Alphabet Inc. $GOOG

AMG National Trust Bank lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,163 shares of the information services provider’s stock after purchasing an additional 373 shares during the period. AMG National Trust Bank’s holdings in Alphabet were worth $12,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Deutsche Bank AG boosted its stake in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after acquiring an additional 440,526 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Scotiabank set a $336.00 price objective on shares of Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday. Oppenheimer lifted their target price on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Down 0.0%

Shares of Alphabet stock opened at $281.82 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The company has a 50-day simple moving average of $244.59 and a two-hundred day simple moving average of $200.98.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the business posted $2.12 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.