CHICAGO TRUST Co NA Raises Stock Position in Alphabet Inc (NASDAQ:GOOG)

CHICAGO TRUST Co NA boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,722 shares of the information services provider’s stock after purchasing an additional 27 shares during the quarter. Alphabet makes up 1.4% of CHICAGO TRUST Co NA’s portfolio, making the stock its 21st largest position. CHICAGO TRUST Co NA’s holdings in Alphabet were worth $3,318,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. purchased a new stake in Alphabet in the 3rd quarter worth $26,000. HMS Capital Management LLC purchased a new stake in Alphabet in the 2nd quarter worth $38,000. Thor Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth $56,000. Permanens Capital L.P. increased its stake in Alphabet by 180.0% in the 2nd quarter. Permanens Capital L.P. now owns 70 shares of the information services provider’s stock worth $76,000 after buying an additional 45 shares in the last quarter. Finally, Camarda Financial Advisors LLC increased its stake in Alphabet by 35.1% in the 2nd quarter. Camarda Financial Advisors LLC now owns 77 shares of the information services provider’s stock worth $83,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 33.79% of the company’s stock.

Shares of GOOG traded up $13.18 during midday trading on Wednesday, hitting $1,202.31. 773,829 shares of the company traded hands, compared to its average volume of 1,458,454. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The firm has a 50 day moving average of $1,204.62 and a 200-day moving average of $1,171.61. The stock has a market cap of $838.32 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.41 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter last year, the firm earned $11.75 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc will post 51.66 earnings per share for the current fiscal year.

In related news, Director John L. Hennessy sold 150 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $1,225.00, for a total value of $183,750.00. Following the completion of the transaction, the director now owns 276 shares of the company’s stock, valued at approximately $338,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 55 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $1,195.00, for a total transaction of $65,725.00. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at approximately $463,660. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,391 shares of company stock valued at $6,502,992. 12.99% of the stock is owned by insiders.

Several research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America reissued a “buy” rating and set a $1,450.00 price objective (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 3rd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,378.93.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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