Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Baker Boyer National Bank

Baker Boyer National Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 62.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,179 shares of the information services provider’s stock after selling 3,646 shares during the quarter. Baker Boyer National Bank’s holdings in Alphabet were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Capital Research Global Investors increased its position in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Alphabet by 3.3% during the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOGL. Piper Sandler lowered their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Evercore ISI decreased their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Up 0.9 %

Shares of NASDAQ GOOGL opened at $163.59 on Monday. The stock has a market cap of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business has a 50-day moving average price of $164.72 and a 200 day moving average price of $165.79.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the firm earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Alphabet 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.