Glenview Trust co Has $17.86 Million Stock Position in Alphabet Inc. $GOOG

Glenview Trust co grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 114,324 shares of the information services provider’s stock after buying an additional 197 shares during the quarter. Glenview Trust co’s holdings in Alphabet were worth $17,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisory Alpha LLC lifted its position in shares of Alphabet by 13.8% in the first quarter. Advisory Alpha LLC now owns 25,990 shares of the information services provider’s stock worth $4,060,000 after buying an additional 3,148 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 6.8% in the 1st quarter. Trinity Financial Advisors LLC now owns 5,818 shares of the information services provider’s stock valued at $888,000 after acquiring an additional 372 shares in the last quarter. Oriental Harbor Investment Fund raised its holdings in Alphabet by 38.3% in the 1st quarter. Oriental Harbor Investment Fund now owns 654,318 shares of the information services provider’s stock valued at $102,224,000 after acquiring an additional 181,235 shares in the last quarter. Alaethes Wealth LLC raised its holdings in Alphabet by 2.4% in the 1st quarter. Alaethes Wealth LLC now owns 33,993 shares of the information services provider’s stock valued at $5,311,000 after acquiring an additional 798 shares in the last quarter. Finally, SCS Capital Management LLC raised its holdings in Alphabet by 150.4% in the 1st quarter. SCS Capital Management LLC now owns 64,835 shares of the information services provider’s stock valued at $10,129,000 after acquiring an additional 38,946 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.5%

Shares of GOOG opened at $239.94 on Wednesday. The company has a market capitalization of $2.90 trillion, a P/E ratio of 25.55, a PEG ratio of 1.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $240.59. The business’s 50 day simple moving average is $199.04 and its 200-day simple moving average is $177.55.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $227.56.

About Alphabet

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.