Raymond James Trust N.A. reduced its position in shares of Alphabet Inc (NASDAQ:GOOG) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,931 shares of the information services provider’s stock after selling 474 shares during the quarter. Alphabet accounts for approximately 1.0% of Raymond James Trust N.A.’s holdings, making the stock its 18th biggest position. Raymond James Trust N.A.’s holdings in Alphabet were worth $23,412,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $38,000. Campbell Wealth Management bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Islay Capital Management LLC grew 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 valued at $49,000 after acquiring an additional 10 shares during the period. Prestige Wealth Management Group LLC grew 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 valued at $42,000 after acquiring an additional 34 shares during the period. Finally, Cedar Mountain Advisors LLC grew 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 valued at $61,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 32.42% of the company’s stock.

Shares of GOOG stock opened at $1,573.01 on Friday. Alphabet Inc has a 1-year low of $1,013.54 and a 1-year high of $1,733.18. The stock’s 50-day moving average is $1,525.61 and its 200 day moving average is $1,436.75. The company has a market cap of $1,069.90 billion, a P/E ratio of 34.59, a PEG ratio of 2.16 and a beta of 1.10. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. On average, analysts anticipate that Alphabet Inc will post 44.84 EPS for the current year.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total value of $92,297.40. Following the completion of the sale, the director now directly owns 517 shares in the company, valued at $795,295.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 22 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the sale, the director now owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142 shares of company stock valued at $213,357. 12.99% of the stock is currently owned by company insiders.

GOOG has been the subject of a number of recent research reports. Pivotal Research boosted their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. KeyCorp initiated coverage on Alphabet in a research note on Monday, September 14th. They set an “overweight” rating for the company. Raymond James boosted 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. Barclays restated a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Finally, Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $1,703.33.

About Alphabet

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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