Raymond James Trust N.A. trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,931 shares of the information services provider’s stock after selling 474 shares during the period. Alphabet accounts for about 1.0% of Raymond James Trust N.A.’s investment portfolio, making the stock its 18th biggest holding. Raymond James Trust N.A.’s holdings in Alphabet were worth $23,412,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOG. Virtus ETF Advisers LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $38,000. Campbell Wealth Management purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Prestige Wealth Management Group LLC raised its stake in shares of Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares in the last quarter. Islay Capital Management LLC raised its stake in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after buying an additional 10 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock worth $61,000 after buying an additional 11 shares in the last quarter. 32.42% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the company. KeyCorp assumed coverage on Alphabet in a research note on Monday, September 14th. They issued an “overweight” rating for the company. UBS Group reaffirmed a “buy” rating and issued a $1,970.00 price objective (up from $1,600.00) on shares of Alphabet in a research note on Tuesday, August 25th. Oppenheimer raised their price objective on Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Raymond James raised their price objective on Alphabet from $1,425.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus cut Alphabet from a “buy” rating to a “hold” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,703.33.

In other news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the sale, the director now directly owns 517 shares of the company’s stock, valued at $795,295.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 22 shares of Alphabet stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total value of $32,653.94. Following the sale, the director now directly owns 1,134 shares in the company, valued at $1,683,162.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142 shares of company stock worth $213,357. Corporate insiders own 12.99% of the company’s stock.

NASDAQ:GOOG opened at $1,573.01 on Friday. The business’s 50-day moving average is $1,525.61 and its two-hundred day moving average is $1,436.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The firm has a market capitalization of $1,069.90 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Equities analysts anticipate that Alphabet Inc will post 44.84 EPS for the current year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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