Sanibel Captiva Trust Company Inc. Sells 2,039 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sanibel Captiva Trust Company Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 206,378 shares of the information services provider’s stock after selling 2,039 shares during the quarter. Alphabet makes up about 1.1% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 22nd biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in Alphabet were worth $34,228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. New Hampshire Trust increased its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new position in shares of Alphabet in the 1st quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP grew its position in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares during the period. Sanders Morris Harris LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $842,000. Finally, Trinity Financial Advisors LLC lifted its holdings in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on GOOGL shares. Jefferies Financial Group upped their target price on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Wolfe Research started coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Loop Capital restated a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. TD Securities upped their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, Roth Mkm reiterated a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Down 1.4 %

Alphabet stock opened at $162.93 on Friday. The firm has a market capitalization of $2.01 trillion, a PE ratio of 24.99, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company’s 50-day moving average is $161.77 and its 200-day moving average is $168.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the business posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

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.