Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Keystone Financial Services

Keystone Financial Services trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,853 shares of the information services provider’s stock after selling 110 shares during the period. Alphabet comprises approximately 0.7% of Keystone Financial Services’ holdings, making the stock its 19th largest holding. Keystone Financial Services’ holdings in Alphabet were worth $1,190,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GOOG. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Alphabet by 1,872.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after purchasing an additional 17,365,189 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Alphabet by 1,879.5% in the 3rd quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock valued at $1,124,431,000 after acquiring an additional 11,103,769 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Alphabet by 1,899.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock valued at $654,531,000 after acquiring an additional 6,343,615 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Alphabet by 1,835.5% in the 3rd quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock valued at $619,633,000 after acquiring an additional 6,111,475 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Alphabet by 1,861.3% in the 3rd quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock valued at $431,640,000 after acquiring an additional 4,260,344 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. Raymond James lowered their price objective on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 price objective on Alphabet in a research note on Wednesday, October 26th. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. Cowen decreased their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, UBS Group set a $115.00 price target on Alphabet in a research note on Thursday, January 12th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Trading Up 1.9 %

Shares of NASDAQ GOOG opened at $101.21 on Tuesday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $93.62 and a 200-day simple moving average of $102.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. Over the last three months, insiders purchased 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. 12.99% of the stock is currently owned by company insiders.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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