NatWest Group plc Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

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NatWest Group plc trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,213 shares of the information services provider’s stock after selling 35 shares during the period. Alphabet makes up approximately 0.7% of NatWest Group plc’s holdings, making the stock its 28th largest position. NatWest Group plc’s holdings in Alphabet were worth $3,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new position in shares of Alphabet in the second quarter worth $11,845,000. Merit Financial Group LLC raised its position in Alphabet by 2.6% in the 3rd quarter. Merit Financial Group LLC now owns 975 shares of the information services provider’s stock valued at $1,433,000 after purchasing an additional 25 shares during the last quarter. Ashfield Capital Partners LLC increased its stake in Alphabet by 6.7% in the 2nd quarter. Ashfield Capital Partners LLC now owns 14,950 shares of the information services provider’s stock valued at $21,133,000 after buying an additional 944 shares during the period. Financial Advisors Network Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth $236,000. Finally, Scotia Capital Inc. grew its stake in Alphabet by 2.5% in the 2nd quarter. Scotia Capital Inc. now owns 56,105 shares of the information services provider’s stock valued at $79,555,000 after acquiring an additional 1,394 shares during the last quarter. 32.42% of the stock is owned by institutional investors.

In related news, Director John L. Hennessy sold 60 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $1,473.43, for a total value of $88,405.80. Following the sale, the director now directly owns 548 shares of the company’s stock, valued at approximately $807,439.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 20 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $1,628.16, for a total transaction of $32,563.20. Following the completion of the sale, the director now directly owns 1,139 shares in the company, valued at $1,854,474.24. The disclosure for this sale can be found here. Insiders have sold a total of 162 shares of company stock valued at $245,920 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Shares of NASDAQ:GOOG traded down $21.73 during midday trading on Friday, reaching $1,742.19. The company’s stock had a trading volume of 2,313,655 shares, compared to its average volume of 1,943,166. The firm has a market capitalization of $1,178.46 billion, a PE ratio of 33.67, a P/E/G ratio of 2.04 and a beta of 1.01. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $1,622.42 and a 200 day moving average of $1,514.86. Alphabet Inc. has a twelve month low of $1,013.54 and a twelve month high of $1,818.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.35 by $5.05. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $46.17 billion for the quarter, compared to the consensus estimate of $42.84 billion. During the same period last year, the firm posted $10.12 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 50.53 earnings per share for the current fiscal year.

Several research firms recently commented on GOOG. Raymond James raised their price target on shares of Alphabet from $1,700.00 to $1,800.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, October 20th. Cleveland Research raised Alphabet to a “buy” rating in a research note on Friday, October 23rd. Wedbush reiterated an “outperform” rating and set a $1,850.00 price target (up from $1,700.00) on shares of Alphabet in a report on Friday, October 30th. Finally, KeyCorp began coverage on Alphabet in a research report on Monday, September 14th. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,786.86.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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