Country Trust Bank Has $42.36 Million Stake in Alphabet Inc (GOOG)

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Country Trust Bank grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,966 shares of the information services provider’s stock after acquiring an additional 2,341 shares during the period. Alphabet comprises 1.8% of Country Trust Bank’s holdings, making the stock its 15th largest holding. Country Trust Bank’s holdings in Alphabet were worth $42,357,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOG. HC Financial Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $1,156,000. Wallington Asset Management LLC increased its position in shares of Alphabet by 1.6% during the first quarter. Wallington Asset Management LLC now owns 7,652 shares of the information services provider’s stock worth $7,895,000 after buying an additional 120 shares during the period. Parallel Advisors LLC increased its position in shares of Alphabet by 4.3% during the first quarter. Parallel Advisors LLC now owns 3,958 shares of the information services provider’s stock worth $4,084,000 after buying an additional 163 shares during the period. Willingdon Wealth Management increased its position in shares of Alphabet by 15.2% during the first quarter. Willingdon Wealth Management now owns 3,479 shares of the information services provider’s stock worth $3,590,000 after buying an additional 459 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its position in shares of Alphabet by 17.1% during the first quarter. Douglass Winthrop Advisors LLC now owns 56,838 shares of the information services provider’s stock worth $58,645,000 after buying an additional 8,302 shares during the period. 34.16% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Alphabet from a “sell” rating to a “strong sell” rating in a research report on Tuesday. JMP Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Friday. Nomura reiterated a “buy” rating on shares of Alphabet in a research report on Monday, October 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Monday, October 29th. Finally, Macquarie restated a “buy” rating on shares of Alphabet in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,301.81.

In other news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $1,230.21, for a total transaction of $12,302,100.00. Following the completion of the transaction, the chief executive officer now directly owns 560 shares in the company, valued at $688,917.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at $463,194.40. The disclosure for this sale can be found here. Insiders have sold 77,621 shares of company stock valued at $91,928,242 over the last quarter. Corporate insiders own 13.11% of the company’s stock.

NASDAQ:GOOG opened at $1,040.09 on Tuesday. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $736.09 billion, a price-to-earnings ratio of 23.80 and a beta of 1.16. Alphabet Inc has a 12 month low of $980.64 and a 12 month high of $1,273.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion during the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Fundamental Analysis and Individual Investors

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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