First Financial Bank Trust Division Sells 1,352 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Financial Bank Trust Division trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,029 shares of the information services provider’s stock after selling 1,352 shares during the quarter. First Financial Bank Trust Division’s holdings in Alphabet were worth $1,342,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOG. JPMorgan Chase & Co. raised its holdings in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new stake in shares of Alphabet during the first quarter worth about $1,378,708,000. Capital International Investors raised its holdings in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares during the last quarter. Finally, Vima LLC lifted its position in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after acquiring an additional 2,000,000 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’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 directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock worth $35,922,911 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.7 %

Shares of GOOG stock opened at $167.31 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.66, a PEG ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $163.57 and a 200-day moving average of $168.50. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its 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 return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Pivotal Research started coverage on shares of Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 target price for the company. Finally, Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.75.

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.