CHICAGO TRUST Co NA Purchases 5,490 Shares of Alphabet Inc. $GOOG

Key Points

• CHICAGO TRUST Co NA has increased its stake in Alphabet Inc. by 15.5%, acquiring an additional 5,490 shares, making Alphabet approximately 1.0% of its investment portfolio.
• Alphabet's CEO, Sundar Pichai, sold 32,500 shares of the company's stock for $8.1 million, representing a 1.34% decrease in his ownership.
• According to analysts, Alphabet has a current consensus rating of "Moderate Buy" with a price target of $230.35, reflecting an optimistic outlook from several equity analysts.

CHICAGO TRUST Co NA lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,998 shares of the information services provider's stock after acquiring an additional 5,490 shares during the quarter. Alphabet accounts for approximately 1.0% of CHICAGO TRUST Co NA's investment portfolio, making the stock its 18th largest holding. CHICAGO TRUST Co NA's holdings in Alphabet were worth $7,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Independence Bank of Kentucky raised its holdings in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. RDA Financial Network raised its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after buying an additional 554 shares in the last quarter. Fermata Advisors LLC raised its position in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares in the last quarter. jvl associates llc raised its position in shares of Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares in the last quarter. Finally, Members Trust Co raised its position in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after acquiring an additional 2,292 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Stock Down 0.2%

Alphabet stock opened at $252.34 on Wednesday. The firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The business's 50-day moving average price is $212.86 and its 200 day moving average price is $182.73. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

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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