Spinnaker Trust Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Spinnaker Trust raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,911.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,843 shares of the information services provider’s stock after buying an additional 108,183 shares during the quarter. Alphabet comprises about 0.9% of Spinnaker Trust’s investment portfolio, making the stock its 24th biggest holding. Spinnaker Trust’s holdings in Alphabet were worth $10,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Totem Point Management LLC raised its stake in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F raised its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. bought a new stake in shares of Alphabet in the first quarter worth $2,564,000. Hall Capital Management Co. Inc. grew its holdings in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. grew its holdings in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Over the last three months, insiders have bought 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $99.21 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.28 trillion, a P/E ratio of 19.70, a P/E/G ratio of 1.74 and a beta of 1.08. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10. The business’s 50-day moving average is $93.63 and its 200 day moving average is $102.00.

Alphabet (NASDAQ:GOOGGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. Alphabet’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. JPMorgan Chase & Co. set a $115.00 price objective on Alphabet in a report on Wednesday, October 26th. Oppenheimer cut their price objective on Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Societe Generale cut their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Cowen cut their price objective on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Raymond James cut their price target on Alphabet from $120.00 to $116.00 and set an “outperform” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $140.40.

Alphabet Company Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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