Chevy Chase Trust Holdings Inc. Decreases Stake in Alphabet Inc. (GOOGL)

Chevy Chase Trust Holdings Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,841 shares of the information services provider’s stock after selling 969 shares during the quarter. Alphabet makes up approximately 1.4% of Chevy Chase Trust Holdings Inc.’s portfolio, making the stock its 9th largest holding. Chevy Chase Trust Holdings Inc.’s holdings in Alphabet were worth $325,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Odey Holdings AG boosted its stake in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares in the last quarter. Stelac Advisory Services LLC acquired a new stake in Alphabet during the third quarter worth $126,000. Wealthcare Advisory Partners LLC acquired a new stake in Alphabet during the third quarter worth $137,000. Farmers National Bank boosted its stake in Alphabet by 3.3% during the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after buying an additional 5 shares in the last quarter. Finally, Hudock Capital Group LLC boosted its stake in Alphabet by 11.7% during the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after buying an additional 17 shares in the last quarter. 34.38% of the stock is currently owned by institutional investors.

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GOOGL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target on the stock in a research note on Tuesday, December 26th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 price target on the stock in a research note on Tuesday, December 26th. Robert W. Baird reiterated a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a research note on Tuesday, January 2nd. Cowen lifted their price target on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, SunTrust Banks restated a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,172.65.

NASDAQ:GOOGL traded down $1.25 on Friday, hitting $1,036.04. 1,270,461 shares of the stock were exchanged, compared to its average volume of 2,487,065. The stock has a market capitalization of $720,691.50, a P/E ratio of 32.33, a P/E/G ratio of 1.11 and a beta of 1.05. Alphabet Inc. has a 52 week low of $841.03 and a 52 week high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. equities analysts predict that Alphabet Inc. will post 41.18 EPS for the current year.

Alphabet declared that its board has initiated a stock 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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