Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cadence Bank

Cadence Bank lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,674 shares of the information services provider’s stock after selling 339 shares during the quarter. Cadence Bank’s holdings in Alphabet were worth $3,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Group Private Client Services Inc. raised its holdings in Alphabet by 2.2% in the 4th quarter. Capital Group Private Client Services Inc. now owns 2,040,236 shares of the information services provider’s stock valued at $388,543,000 after acquiring an additional 43,468 shares during the last quarter. Capital International Investors grew its position in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Capital International Sarl increased its holdings in shares of Alphabet by 7.0% in the fourth quarter. Capital International Sarl now owns 412,680 shares of the information services provider’s stock valued at $78,591,000 after purchasing an additional 26,890 shares during the last quarter. Arvest Bank Trust Division lifted its position in Alphabet by 2.7% during the fourth quarter. Arvest Bank Trust Division now owns 9,055 shares of the information services provider’s stock worth $1,724,000 after buying an additional 238 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Alphabet by 9.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,024,516 shares of the information services provider’s stock worth $766,037,000 after buying an additional 342,101 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOOG shares. Westpark Capital began coverage on Alphabet in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have given 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 a consensus target price of $210.88.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock valued at $20,286,447 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $153.36 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The firm has a 50 day moving average of $167.84 and a two-hundred day moving average of $177.58. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.87 trillion, a PE ratio of 19.05, a P/E/G ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. Alphabet’s payout ratio is 9.94%.

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.