Argent Trust Co boosted its position in Alphabet Inc (NASDAQ:GOOG) by 247.8% in the second quarter, HoldingsChannel reports. The firm owned 7,203 shares of the information services provider’s stock after purchasing an additional 5,132 shares during the quarter. Alphabet comprises 1.1% of Argent Trust Co’s portfolio, making the stock its 22nd biggest holding. Argent Trust Co’s holdings in Alphabet were worth $8,035,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CapWealth Advisors LLC grew its position in shares of Alphabet by 10.5% in the 2nd quarter. CapWealth Advisors LLC now owns 3,489 shares of the information services provider’s stock valued at $3,893,000 after buying an additional 331 shares during the last quarter. Focused Wealth Management Inc bought a new stake in shares of Alphabet in the 2nd quarter valued at about $283,000. Qube Research & Technologies Ltd bought a new stake in shares of Alphabet in the 2nd quarter valued at about $1,755,000. HRT Financial LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $1,578,000. Finally, DF Dent & Co. Inc. grew its position in shares of Alphabet by 3.0% in the 2nd quarter. DF Dent & Co. Inc. now owns 94,855 shares of the information services provider’s stock valued at $105,825,000 after buying an additional 2,721 shares during the last quarter. 33.96% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on GOOG. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Raymond James reiterated an “outperform” rating and issued a $1,300.00 price target (down previously from $1,405.00) on shares of Alphabet in a research report on Friday, October 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, August 21st. Macquarie reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, August 15th. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Friday, September 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1,301.81.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter.
In other Alphabet news, Director Ann Mather sold 24 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $1,206.20, for a total value of $28,948.80. Following the transaction, the director now owns 1,898 shares in the company, valued at $2,289,367.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the completion of the transaction, the chief accounting officer now owns 388 shares in the company, valued at approximately $463,194.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,267 shares of company stock worth $99,725,538. Corporate insiders own 13.11% of the company’s stock.
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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.
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