Whittier Trust Co. Has $114.23 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 6th, 2023

Whittier Trust Co. grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,287,442 shares of the information services provider’s stock after purchasing an additional 3,485 shares during the period. Alphabet comprises about 2.2% of Whittier Trust Co.’s investment portfolio, making the stock its 6th biggest holding. Whittier Trust Co.’s holdings in Alphabet were worth $114,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kennon Green & Company LLC bought a new stake in shares of Alphabet in the 4th quarter worth $1,647,000. Hoxton Planning & Management LLC bought a new stake in shares of Alphabet in the 4th quarter worth $270,000. SNS Financial Group LLC increased its holdings in shares of Alphabet by 3.3% in the 4th quarter. SNS Financial Group LLC now owns 13,844 shares of the information services provider’s stock worth $1,228,000 after purchasing an additional 442 shares in the last quarter. Triton Wealth Management PLLC grew its holdings in shares of Alphabet by 5.5% in the fourth quarter. Triton Wealth Management PLLC now owns 9,780 shares of the information services provider’s stock worth $903,000 after acquiring an additional 510 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Alphabet by 4.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 380,112 shares of the information services provider’s stock worth $37,099,000 after acquiring an additional 14,600 shares during the period. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOOG. Credit Suisse Group set a $136.00 price objective on Alphabet in a report on Friday, February 3rd. Bank of America lifted their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. UBS Group set a $120.00 price objective on Alphabet in a report on Monday, February 6th. Jefferies Financial Group set a $125.00 price objective on Alphabet in a report on Friday, February 3rd. Finally, The Goldman Sachs Group set a $128.00 price objective on Alphabet in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,192 shares of company stock worth $11,373,417. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $104.95 on Thursday. The stock’s 50-day simple moving average is $98.27 and its 200-day simple moving average is $96.34. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $139.85. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.45 and a beta of 1.10. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, analysts expect that Alphabet Inc. will post 5.11 earnings per share 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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