Baker Boyer National Bank Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Baker Boyer National Bank reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 9.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,732 shares of the information services provider’s stock after selling 957 shares during the period. Alphabet comprises 0.5% of Baker Boyer National Bank’s investment portfolio, making the stock its 21st biggest position. Baker Boyer National Bank’s holdings in Alphabet were worth $1,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Veracity Capital LLC grew its position in shares of Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the last quarter. Strategic Blueprint LLC increased its position in Alphabet by 36.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after buying an additional 4,044 shares in the last quarter. Finally, Investment Partners LTD. increased its position in Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after buying an additional 410 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 12,084 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,458 shares of company stock worth $26,375,053. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOG opened at $180.79 on Tuesday. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $182.51. The business has a 50-day moving average of $172.10 and a two-hundred day moving average of $154.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $165.67.

About Alphabet

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.