First Mercantile Trust Co. Has $6.38 Million Holdings in Alphabet Inc. (GOOG)

First Mercantile Trust Co. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 29.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,025 shares of the information services provider’s stock after selling 2,958 shares during the period. Alphabet comprises about 1.2% of First Mercantile Trust Co.’s investment portfolio, making the stock its 8th biggest position. First Mercantile Trust Co.’s holdings in Alphabet were worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cumberland Partners Ltd boosted its position in shares of Alphabet by 1.0% during the 2nd quarter. Cumberland Partners Ltd now owns 23,736 shares of the information services provider’s stock valued at $21,569,000 after acquiring an additional 232 shares in the last quarter. Smith Asset Management Group LP boosted its position in shares of Alphabet by 29.1% during the 2nd quarter. Smith Asset Management Group LP now owns 42,587 shares of the information services provider’s stock valued at $38,700,000 after acquiring an additional 9,587 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $80,789,000. First Capital Advisors Group LLC. boosted its position in shares of Alphabet by 80.8% during the 2nd quarter. First Capital Advisors Group LLC. now owns 651 shares of the information services provider’s stock valued at $592,000 after acquiring an additional 291 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Alphabet by 23.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 595 shares of the information services provider’s stock valued at $541,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 34.50% of the company’s stock.

In related news, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction on Monday, August 14th. The shares were sold at an average price of $931.32, for a total value of $1,862,640.00. Following the completion of the sale, the senior vice president now owns 800 shares of the company’s stock, valued at approximately $745,056. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the sale, the chief executive officer now directly owns 1,389 shares of the company’s stock, valued at approximately $1,287,311.31. The disclosure for this sale can be found here. In the last three months, insiders sold 33,493 shares of company stock valued at $31,427,581. 13.92% of the stock is currently owned by insiders.

WARNING: This piece was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/11/02/first-mercantile-trust-co-has-6-38-million-holdings-in-alphabet-inc-goog.html.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. During the same quarter last year, the firm posted $9.06 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis.

Several analysts have recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. UBS AG reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Barclays PLC reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. JMP Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Macquarie reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,045.44.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply