Chevy Chase Trust Holdings LLC Has $604.06 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Chevy Chase Trust Holdings LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 3rd quarter, Holdings Channel reports. The fund owned 3,613,031 shares of the information services provider’s stock after selling 86,560 shares during the quarter. Alphabet accounts for approximately 1.9% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 8th largest position. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $604,063,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $44,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of GOOG stock opened at $170.49 on Monday. The stock has a 50 day moving average of $169.98 and a 200 day moving average of $171.82. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.09 trillion, a P/E ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Company Profile

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.