Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Peoples Bank KS

Peoples Bank KS lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,813 shares of the information services provider’s stock after selling 295 shares during the quarter. Alphabet comprises about 2.1% of Peoples Bank KS’s investment portfolio, making the stock its 9th biggest holding. Peoples Bank KS’s holdings in Alphabet were worth $3,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. jvl associates llc grew its holdings in Alphabet by 0.8% during the third quarter. jvl associates llc now owns 15,715 shares of the information services provider’s stock worth $2,606,000 after acquiring an additional 125 shares during the period. Sowell Financial Services LLC lifted its holdings in Alphabet by 2.6% in the 3rd quarter. Sowell Financial Services LLC now owns 107,992 shares of the information services provider’s stock valued at $17,911,000 after acquiring an additional 2,686 shares during the last quarter. Abacus Wealth Partners LLC boosted its position in shares of Alphabet by 14.4% during the 3rd quarter. Abacus Wealth Partners LLC now owns 3,784 shares of the information services provider’s stock valued at $628,000 after purchasing an additional 476 shares in the last quarter. Granite Bay Wealth Management LLC grew its stake in shares of Alphabet by 10.8% in the 3rd quarter. Granite Bay Wealth Management LLC now owns 2,174 shares of the information services provider’s stock worth $361,000 after purchasing an additional 212 shares during the last quarter. Finally, CJM Wealth Advisers Ltd. raised its holdings in shares of Alphabet by 14.3% in the 3rd quarter. CJM Wealth Advisers Ltd. now owns 4,634 shares of the information services provider’s stock worth $769,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Bank of America boosted their target price on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup increased their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets cut their price objective on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.95.

Alphabet Price Performance

Shares of Alphabet stock opened at $163.24 on Monday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a fifty day simple moving average of $161.37 and a 200-day simple moving average of $167.86. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. 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 business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last three months. 11.55% of the stock is currently 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.