Whittier Trust Co. Has $221.74 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Whittier Trust Co. raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,419,344 shares of the information services provider's stock after purchasing an additional 9,815 shares during the quarter. Alphabet comprises approximately 3.1% of Whittier Trust Co.'s investment portfolio, making the stock its 6th biggest holding. Whittier Trust Co.'s holdings in Alphabet were worth $221,744,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC boosted its holdings in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC boosted its holdings in Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG traded up $1.83 during midday trading on Wednesday, hitting $184.93. The company had a trading volume of 11,549,570 shares, compared to its average volume of 21,456,800. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market cap of $2.24 trillion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.28 and a beta of 1.01. The firm has a fifty day simple moving average of $172.19 and a two-hundred day simple moving average of $174.74. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business earned $1.89 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. Alphabet's payout ratio is 9.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. Oppenheimer restated an "outperform" rating and issued a $220.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating on shares of Alphabet in a research report on Wednesday, July 9th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Scotiabank reduced their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $208.40.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,943 shares of company stock worth $31,223,348 over the last ninety days. Corporate 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.