STAR Financial Bank Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

STAR Financial Bank cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,130 shares of the information services provider’s stock after selling 1,665 shares during the period. Alphabet makes up about 1.4% of STAR Financial Bank’s holdings, making the stock its 14th largest holding. STAR Financial Bank’s holdings in Alphabet were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Nebula Research & Development LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $787,000. New Hampshire Trust lifted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP lifted its holdings in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Alphabet by 14.5% in the 4th quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock worth $3,046,000 after acquiring an additional 2,763 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research note on Monday. Finally, Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock worth $29,878,106 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ GOOGL opened at $162.29 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a 50-day moving average price of $163.80 and a 200 day moving average price of $166.17. The stock has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the business earned $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.