Alphabet Inc. $GOOG Shares Sold by Family Capital Trust Co

Key Points

• Family Capital Trust Co reduced its stake in Alphabet Inc. by 26.1%, holding 8,265 shares valued at approximately $1.46 million after selling 2,915 shares in Q2.
• Several institutional investors, including Vanguard Group Inc. and Kingstone Capital Partners, increased their stakes, with Vanguard owning over 411 million shares valued at around $64 billion.
• Alphabet's most recent earnings report showed an EPS of $2.31, exceeding expectations and indicating a 13.8% year-over-year revenue growth to $96.43 billion.

Family Capital Trust Co lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,265 shares of the information services provider's stock after selling 2,915 shares during the period. Family Capital Trust Co's holdings in Alphabet were worth $1,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Alphabet by 2.4% in the 1st 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 period. Kingstone Capital Partners Texas LLC boosted its holdings in Alphabet by 580,897.4% in the 2nd 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 purchasing an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Deutsche Bank AG boosted its holdings in Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

GOOG stock opened at $252.53 on Thursday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock's 50 day moving average price is $235.22 and its 200 day moving average price is $194.81. The firm has a market cap of $3.05 trillion, a P/E ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOG shares. Scotiabank reaffirmed an "outperform" rating and issued a $310.00 price objective on shares of Alphabet in a report on Thursday, October 16th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $246.26.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company's stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last quarter. Insiders own 12.99% of the company's stock.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.