Spinnaker Trust Has $21.20 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Spinnaker Trust boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,577 shares of the information services provider’s stock after buying an additional 1,093 shares during the quarter. Alphabet makes up about 1.4% of Spinnaker Trust’s holdings, making the stock its 17th biggest position. Spinnaker Trust’s holdings in Alphabet were worth $21,199,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC increased its stake in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC increased its position in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV lifted its position in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The disclosure for this sale can be found here. Insiders sold a total of 178,383 shares of company stock worth $30,906,970 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.0 %

NASDAQ:GOOG opened at $165.11 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.22 and a beta of 1.05. The business’s 50-day moving average price is $174.78 and its two-hundred day moving average price is $165.53.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued 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 12.27%.

Analyst Ratings Changes

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

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.