First Interstate Bank Sells 194 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Interstate Bank decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,507 shares of the information services provider’s stock after selling 194 shares during the period. First Interstate Bank’s holdings in Alphabet were worth $1,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at about $37,000. Richardson Financial Services Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter valued at approximately $44,000. Hoese & Co LLP raised its holdings in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,867 shares of company stock valued at $34,218,581. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 2.2 %

Shares of Alphabet stock opened at $155.54 on Friday. The stock has a market capitalization of $1.92 trillion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a 50 day moving average price of $169.73 and a two-hundred day moving average price of $165.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the firm posted $1.44 EPS. Alphabet’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GOOG shares. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday. Rosenblatt Securities lowered 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 target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Company 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.