Alphabet Inc. $GOOGL Shares Sold by Peoples Bank KS

Peoples Bank KS reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,268 shares of the information services provider’s stock after selling 90 shares during the quarter. Alphabet accounts for 2.3% of Peoples Bank KS’s portfolio, making the stock its 9th largest position. Peoples Bank KS’s holdings in Alphabet were worth $3,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of GOOGL. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Forum Financial Management LP increased its holdings in Alphabet by 6.4% during the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after purchasing an additional 4,756 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in Alphabet during the 4th quarter valued at $464,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Alphabet during the 4th quarter valued at $89,168,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOGL shares. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Roth Capital boosted their target price on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler increased their target price on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday. BNP Paribas Exane reissued a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.54.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $254.72 on Friday. The stock has a market cap of $3.08 trillion, a P/E ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.01. The stock has a 50 day simple moving average of $209.36 and a 200 day simple moving average of $180.36. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last 90 days. 11.64% of the stock is currently owned by insiders.

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.