CHICAGO TRUST Co NA Has $4.22 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 22nd, 2023

CHICAGO TRUST Co NA lessened its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 21.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,586 shares of the information services provider’s stock after selling 13,086 shares during the period. Alphabet comprises approximately 1.1% of CHICAGO TRUST Co NA’s holdings, making the stock its 18th biggest holding. CHICAGO TRUST Co NA’s holdings in Alphabet were worth $4,223,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GOOG. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after buying an additional 59,964,963 shares during the last quarter. 28.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock valued at $7,174,078 in the last quarter. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOG. Raymond James lifted their price target on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a report on Monday, February 6th. The Goldman Sachs Group set a $128.00 price objective on Alphabet in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a report on Thursday, February 9th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

Alphabet Price Performance

Shares of GOOG opened at $105.84 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The stock has a 50 day simple moving average of $96.29 and a 200 day simple moving average of $96.56. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The firm has a market capitalization of $1.36 trillion, a PE ratio of 23.26, a P/E/G ratio of 1.41 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.