First PREMIER Bank Purchases 1,200 Shares of Alphabet Inc. (NASDAQ:GOOG)

First PREMIER Bank grew its position in Alphabet Inc. (NASDAQ:GOOG) by 130.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,121 shares of the information services provider’s stock after purchasing an additional 1,200 shares during the period. First PREMIER Bank’s holdings in Alphabet were worth $354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Park Avenue Securities LLC increased its position in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after acquiring an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC boosted its holdings 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 buying an additional 107 shares during the last quarter. Oak Ridge Investments LLC grew its stake in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the last quarter. Finally, Alliance Wealth Management Group raised its position in Alphabet by 93.6% during the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after acquiring an additional 1,890 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Oppenheimer cut their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $184.11.

Alphabet Trading Down 0.1 %

Shares of NASDAQ:GOOG opened at $165.51 on Wednesday. The company has a market capitalization of $2.05 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50 day simple moving average is $163.27 and its 200 day simple moving average is $169.12. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock valued at $35,922,911 over the last three months. 12.99% of the stock is owned by insiders.

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.