Perkins Coie Trust Co Sells 586 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Perkins Coie Trust Co trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 62,541 shares of the information services provider’s stock after selling 586 shares during the period. Alphabet makes up about 2.3% of Perkins Coie Trust Co’s holdings, making the stock its 7th largest holding. Perkins Coie Trust Co’s holdings in Alphabet were worth $10,372,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter worth $30,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.4 %

Shares of NASDAQ:GOOGL opened at $162.93 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $161.77 and a 200-day moving average of $168.01. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company posted $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

About Alphabet

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.