Dorsey & Whitney Trust CO LLC Has $5.51 Million Stake in Alphabet Inc. (GOOG)

Dorsey & Whitney Trust CO LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,263 shares of the information services provider’s stock after selling 212 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Alphabet were worth $5,507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Advantus Capital Management Inc raised its holdings in shares of Alphabet by 2.0% during the third quarter. Advantus Capital Management Inc now owns 30,729 shares of the information services provider’s stock valued at $29,472,000 after purchasing an additional 593 shares during the last quarter. Sandy Spring Bank raised its holdings in shares of Alphabet by 2.9% during the third quarter. Sandy Spring Bank now owns 10,525 shares of the information services provider’s stock valued at $10,094,000 after purchasing an additional 295 shares during the last quarter. Smithfield Trust Co. raised its holdings in shares of Alphabet by 5.8% during the third quarter. Smithfield Trust Co. now owns 1,479 shares of the information services provider’s stock valued at $1,419,000 after purchasing an additional 81 shares during the last quarter. Princeton Capital Management Inc. raised its holdings in shares of Alphabet by 3.4% during the third quarter. Princeton Capital Management Inc. now owns 3,284 shares of the information services provider’s stock valued at $3,150,000 after purchasing an additional 107 shares during the last quarter. Finally, High Pointe Capital Management LLC raised its holdings in shares of Alphabet by 2.9% during the third quarter. High Pointe Capital Management LLC now owns 1,791 shares of the information services provider’s stock valued at $1,718,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 34.78% of the company’s stock.

Shares of Alphabet opened at $1,078.59 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. Alphabet Inc. has a fifty-two week low of $1,076.38 and a fifty-two week high of $1,088.16. The firm has a market cap of $751.77 billion, a P/E ratio of 33.65 and a beta of 1.09.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.28 by $0.65. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm had revenue of $31.15 billion during the quarter, compared to analyst estimates of $30.28 billion. During the same quarter in the prior year, the business earned $7.73 earnings per share. Alphabet’s revenue for the quarter was up 25.8% on a year-over-year basis.

Alphabet declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, Director L John Doerr sold 11,563 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $1,081.12, for a total transaction of $12,500,990.56. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at $3,767,703.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the transaction, the chief executive officer now owns 940 shares of the company’s stock, valued at approximately $934,172. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,211 shares of company stock valued at $61,748,995. 13.92% of the stock is owned by company insiders.

GOOG has been the subject of several research reports. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Oppenheimer upped their target price on shares of Alphabet from $1,340.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, April 24th. BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 5th. Finally, TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $1,130.86.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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

Leave a Reply