Baker Boyer National Bank Cuts Position in Alphabet Inc. $GOOG

Baker Boyer National Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the second quarter, HoldingsChannel.com reports. The firm owned 3,416 shares of the information services provider’s stock after selling 57 shares during the quarter. Baker Boyer National Bank’s holdings in Alphabet were worth $606,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the 1st quarter valued at about $26,000. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOG. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Morgan Stanley lifted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.68.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $253.79 on Friday. The company’s fifty day simple moving average is $232.18 and its 200-day simple moving average is $192.73. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, a PEG ratio of 1.70 and a beta of 1.00.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock valued at $55,110,740 over the last quarter. 12.99% of the stock is owned by company 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.