Alphabet Inc (GOOG) is Busey Trust CO’s 7th Largest Position

Busey Trust CO lifted its position in Alphabet Inc (NASDAQ:GOOG) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,680 shares of the information services provider’s stock after acquiring an additional 393 shares during the quarter. Alphabet comprises about 2.6% of Busey Trust CO’s portfolio, making the stock its 7th biggest holding. Busey Trust CO’s holdings in Alphabet were worth $28,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. IMS Capital Management raised its position in Alphabet by 2.9% during the second quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock worth $1,634,000 after acquiring an additional 41 shares during the period. Trust Co. of Virginia VA raised its position in Alphabet by 7.2% during the second quarter. Trust Co. of Virginia VA now owns 614 shares of the information services provider’s stock worth $685,000 after acquiring an additional 41 shares during the period. Intl Fcstone Inc. raised its position in Alphabet by 13.8% during the second quarter. Intl Fcstone Inc. now owns 347 shares of the information services provider’s stock worth $387,000 after acquiring an additional 42 shares during the period. Security National Trust Co. raised its position in Alphabet by 1.9% during the second quarter. Security National Trust Co. now owns 2,229 shares of the information services provider’s stock worth $2,487,000 after acquiring an additional 42 shares during the period. Finally, Providence First Trust Co raised its position in Alphabet by 2.7% during the second quarter. Providence First Trust Co now owns 1,581 shares of the information services provider’s stock worth $1,764,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 40.44% of the company’s stock.

Shares of GOOG opened at $1,068.73 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12-month low of $980.64 and a 12-month high of $1,273.89. The stock has a market capitalization of $731.24 billion, a P/E ratio of 23.65 and a beta of 1.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The firm had revenue of $27.16 billion during the quarter.

In related news, Director Ann Mather sold 25 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $1,199.89, for a total value of $29,997.25. Following the completion of the sale, the director now owns 1,912 shares of the company’s stock, valued at $2,294,189.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the completion of the sale, the chief executive officer now directly owns 546 shares of the company’s stock, valued at approximately $633,589.32. The disclosure for this sale can be found here. Insiders sold 89,437 shares of company stock valued at $98,403,047 in the last three months. 13.11% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the stock. Barclays restated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. Wedbush initiated coverage on shares of Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating for the company. Canaccord Genuity dropped their target price on shares of Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating for the company in a report on Friday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, September 24th. Finally, Piper Jaffray Companies dropped their target price on shares of Alphabet to $1,250.00 and set an “overweight” rating for the company in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,301.81.

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Alphabet Company Profile

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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