Bank of Montreal Can Has $1.76 Billion Stake in Alphabet Inc (GOOG)

Bank of Montreal Can increased its position in Alphabet Inc (NASDAQ:GOOG) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,478,458 shares of the information services provider’s stock after purchasing an additional 23,322 shares during the quarter. Alphabet makes up 1.4% of Bank of Montreal Can’s holdings, making the stock its 6th largest position. Bank of Montreal Can owned about 0.21% of Alphabet worth $1,764,499,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GOOG. Summit Trail Advisors LLC raised its holdings in shares of Alphabet by 132,719.3% in the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after purchasing an additional 18,665,638 shares during the period. Private Advisor Group LLC raised its holdings in shares of Alphabet by 18,323.9% in the 2nd quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock valued at $1,064,798,000 after purchasing an additional 949,177 shares during the period. Mainstay Capital Management LLC ADV raised its holdings in shares of Alphabet by 79,743.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 796,838 shares of the information services provider’s stock valued at $1,009,000 after purchasing an additional 795,840 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Alphabet by 114,793.0% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock valued at $642,000 after purchasing an additional 723,196 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 37,811.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 354,849 shares of the information services provider’s stock valued at $1,691,000 after purchasing an additional 353,913 shares during the period. 40.44% of the stock is currently owned by institutional investors.

In other Alphabet news, SVP David C. Drummond sold 5,690 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $1,177.36, for a total transaction of $6,699,178.40. Following the transaction, the senior vice president now owns 41,234 shares in the company, valued at approximately $48,547,262.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $1,200.04, for a total transaction of $12,000,400.00. Following the transaction, the chief executive officer now owns 857 shares in the company, valued at approximately $1,028,434.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,437 shares of company stock worth $98,403,047. 13.11% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on GOOG. JMP Securities reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday, November 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, November 19th. Nomura reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, August 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,301.81.

Shares of GOOG opened at $1,036.58 on Friday. Alphabet Inc has a 52 week low of $980.64 and a 52 week high of $1,273.89. The stock has a market capitalization of $731.24 billion, a P/E ratio of 23.65 and a beta of 1.15. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The business had revenue of $27.16 billion for the quarter.

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About Alphabet

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.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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