Whittier Trust Co. of Nevada Inc. Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Whittier Trust Co. of Nevada Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,878 shares of the information services provider’s stock after acquiring an additional 7,079 shares during the period. Alphabet accounts for 3.1% of Whittier Trust Co. of Nevada Inc.’s investment portfolio, making the stock its 5th largest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Alphabet were worth $110,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at $34,000. Richardson Financial Services Inc. purchased a new stake in Alphabet in the 4th quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at $37,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded up $1.62 during trading hours on Thursday, hitting $166.12. 5,545,116 shares of the company’s stock traded hands, compared to its average volume of 20,101,832. The company has a fifty day simple moving average of $175.92 and a 200-day simple moving average of $165.02. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOOG shares. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $182.86.

Alphabet Profile

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