Alphabet Inc. (GOOG) Shares Bought by First Midwest Bank Trust Division
First Midwest Bank Trust Division boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,898 shares of the information services provider’s stock after buying an additional 398 shares during the period. First Midwest Bank Trust Division’s holdings in Alphabet were worth $1,725,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Doyle Wealth Management increased its position in Alphabet by 6.7% during the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the period. Adviser Investments LLC acquired a new position in Alphabet during the first quarter worth approximately $1,276,000. Farmers & Merchants Investments Inc. increased its position in Alphabet by 0.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock worth $4,533,000 after buying an additional 18 shares during the period. Rothschild Investment Corp IL increased its position in Alphabet by 1.7% during the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after buying an additional 184 shares during the period. Finally, Carret Asset Management LLC increased its position in Alphabet by 1.5% during the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after buying an additional 145 shares during the period. 34.55% of the stock is currently owned by institutional investors.
Several research firms have commented on GOOG. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, August 9th. Moffett Nathanson reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Monday. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have given a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,031.14.
Shares of Alphabet Inc. (NASDAQ GOOG) traded down 0.97% during midday trading on Thursday, reaching $926.00. The company’s stock had a trading volume of 719,030 shares. The stock has a 50-day moving average price of $926.52 and a 200 day moving average price of $906.54. The stock has a market capitalization of $641.61 billion, a PE ratio of 33.56 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. During the same period last year, the company earned $8.42 earnings per share. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
In other Alphabet news, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $949.77, for a total transaction of $1,899,540.00. Following the transaction, the senior vice president now directly owns 1,800 shares in the company, valued at $1,709,586. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,680 shares of company stock valued at $43,521,363. 13.92% of the stock is owned by corporate insiders.
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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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