Alphabet Inc. (NASDAQ:GOOG) is Community Trust & Investment Co.’s 5th Largest Position

Community Trust & Investment Co. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 396,587 shares of the information services provider’s stock after purchasing an additional 2,229 shares during the period. Alphabet comprises about 4.2% of Community Trust & Investment Co.’s investment portfolio, making the stock its 5th biggest position. Community Trust & Investment Co.’s holdings in Alphabet were worth $66,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GOOG. Twelve Points Wealth Management LLC lifted its stake in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC increased its position in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its position in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV boosted its stake in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $164.48 on Thursday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $163.28 and a two-hundred day simple moving average of $169.92. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.