Alphabet Inc (GOOG) Position Increased by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. raised its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 3.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,597 shares of the information services provider’s stock after buying an additional 9,668 shares during the period. Alphabet comprises approximately 1.4% of Chevy Chase Trust Holdings Inc.’s investment portfolio, making the stock its 9th biggest position. Chevy Chase Trust Holdings Inc.’s holdings in Alphabet were worth $300,772,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Advantage Inc. lifted its position in shares of Alphabet by 0.4% in the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after acquiring an additional 1 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX lifted its position in shares of Alphabet by 0.3% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock valued at $794,000 after acquiring an additional 3 shares in the last quarter. First National Trust Co. lifted its position in shares of Alphabet by 0.4% in the 2nd quarter. First National Trust Co. now owns 713 shares of the information services provider’s stock valued at $647,000 after acquiring an additional 3 shares in the last quarter. Marathon Capital Management lifted its position in shares of Alphabet by 1.2% in the 2nd quarter. Marathon Capital Management now owns 436 shares of the information services provider’s stock valued at $396,000 after acquiring an additional 5 shares in the last quarter. Finally, Blue Edge Capital LLC lifted its position in shares of Alphabet by 0.6% in the 2nd quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock valued at $825,000 after acquiring an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 34.34% of the company’s stock.

In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $1,106.68, for a total value of $4,426,720.00. Following the transaction, the chief executive officer now directly owns 642 shares in the company, valued at approximately $710,488.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Grier Campbell sold 238 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total transaction of $276,701.18. The disclosure for this sale can be found here. Insiders sold a total of 43,010 shares of company stock worth $45,958,216 over the last quarter. 13.92% of the stock is currently owned by company insiders.

Alphabet Inc (GOOG) opened at $1,126.79 on Friday. Alphabet Inc has a 12 month low of $803.37 and a 12 month high of $1,186.89. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market cap of $797,770.00, a price-to-earnings ratio of 35.10 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same quarter in the previous year, the business posted $9.36 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year.

Alphabet declared that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Several brokerages recently commented on GOOG. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1,064.49.

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Alphabet Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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