VeraBank N.A. Sells 120 Shares of Alphabet Inc. (NASDAQ:GOOG)

VeraBank N.A. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,010 shares of the information services provider’s stock after selling 120 shares during the period. Alphabet comprises 1.7% of VeraBank N.A.’s portfolio, making the stock its 14th biggest holding. VeraBank N.A.’s holdings in Alphabet were worth $5,504,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its position in shares of Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares during the period. Investment Partners LTD. lifted its holdings in shares of Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares during the period. Colonial River Wealth Management LLC boosted its stake in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Apexium Financial LP grew its holdings in shares of Alphabet by 335.9% in the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after purchasing an additional 41,476 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its position in shares of Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.2 %

NASDAQ:GOOG opened at $167.43 on Friday. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s fifty day moving average price is $176.34 and its two-hundred day moving average price is $164.64. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOG. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Oppenheimer lifted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $182.86.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock worth $31,025,543 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet 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.