Advantage Trust Co Has $522,000 Holdings in Alphabet Inc. $GOOG

Key Points

• Advantage Trust Co increased its stake in Alphabet Inc. by 69% during the second quarter, bringing its total holdings to a value of $522,000.
• Institutional investors own 27.26% of Alphabet's stock, with significant positions added by Kingstone Capital Partners and Vanguard Group in the recent quarter.
• Alphabet's quarterly earnings exceeded expectations, reporting $2.31 earnings per share and $96.43 billion in revenue, a 13.8% increase from the previous year.

Advantage Trust Co boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 69.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,940 shares of the information services provider's stock after purchasing an additional 1,200 shares during the quarter. Alphabet comprises 0.3% of Advantage Trust Co's investment portfolio, making the stock its 28th biggest position. Advantage Trust Co's holdings in Alphabet were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC bought a new position in Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. grew its position in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the first quarter valued at about $369,713,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. TD Cowen lifted their target price on Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. KeyCorp set a $265.00 target price on Alphabet in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $246.26.

Alphabet Stock Performance

NASDAQ:GOOG opened at $253.73 on Friday. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average is $236.22 and its 200-day moving average is $195.53. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.

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