Chevy Chase Trust Holdings LLC Has $614.28 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Chevy Chase Trust Holdings LLC has a $614.28 million stock position in Alphabet Inc., making it the firm's 10th largest holding after a 0.5% decrease in shares during the second quarter.
• Alphabet's latest earnings report surpassed estimates, with a net revenue of $96.43 billion and earnings per share of $2.31, representing a year-over-year revenue increase of 13.8%.
• Institutional investors currently hold 27.26% of Alphabet's stock, with several firms, including Vanguard and JPMorgan, increasing their stakes significantly in recent quarters.

Chevy Chase Trust Holdings LLC cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,462,856 shares of the information services provider's stock after selling 16,773 shares during the quarter. Alphabet comprises about 1.8% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 10th biggest holding. Chevy Chase Trust Holdings LLC's holdings in Alphabet were worth $614,276,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Vanguard Group Inc. raised its holdings 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 in the last quarter. Kingstone Capital Partners Texas LLC raised 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 acquiring an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. raised 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 acquiring an additional 9,243,959 shares in the last quarter. Deutsche Bank AG raised 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 acquiring an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. raised 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 acquiring an additional 440,526 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.3%

NASDAQ GOOG opened at $257.02 on Tuesday. The business's 50-day moving average price is $233.29 and its two-hundred day moving average price is $194.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The firm has a market capitalization of $3.11 trillion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.72 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. boosted their price target on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. UBS Group set a $255.00 price target on Alphabet and gave the stock a "neutral" rating in a report on Thursday, October 9th. Finally, Barclays reissued 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 issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $246.26.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the firm'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 sale, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction 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 transaction, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Insiders own 12.99% of the company's stock.

Alphabet Company 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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