Simmons Bank Sells 212 Shares of Alphabet Inc. $GOOG

Simmons Bank cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,694 shares of the information services provider’s stock after selling 212 shares during the quarter. Simmons Bank’s holdings in Alphabet were worth $4,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. REDW Wealth LLC boosted its stake in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after acquiring an additional 54 shares in the last quarter. ACT Advisors LLC. boosted its stake in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares in the last quarter. Moser Wealth Advisors LLC boosted its stake in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management boosted its position in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares in the last quarter. Finally, Kooman & Associates boosted its position in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $284.75 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. The company’s 50-day simple moving average is $249.02 and its two-hundred day simple moving average is $203.67. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 190,896 shares of company stock valued at $45,092,175 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp reissued an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Pivotal Research upped their price target on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.