Alphabet Inc. $GOOG Shares Sold by BankPlus Trust Department

BankPlus Trust Department lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,382 shares of the information services provider’s stock after selling 285 shares during the period. BankPlus Trust Department’s holdings in Alphabet were worth $2,374,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in Alphabet during the first quarter worth $2,622,943,000. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Alphabet during the first quarter worth $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Alphabet Stock Down 1.9%

Shares of NASDAQ:GOOG opened at $237.49 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The stock’s fifty day simple moving average is $226.97 and its 200-day simple moving average is $189.66. The company has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a P/E/G ratio of 1.63 and a beta of 1.00.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s 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 owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by 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.