Perkins Coie Trust Co Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Perkins Coie Trust Co reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,961 shares of the information services provider’s stock after selling 78 shares during the quarter. Perkins Coie Trust Co’s holdings in Alphabet were worth $829,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC grew its position in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its position in shares of Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV grew its position in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV grew its position in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.6 %

GOOG traded down $2.57 during trading hours on Wednesday, reaching $163.13. 3,013,885 shares of the stock traded hands, compared to its average volume of 19,788,781. The firm’s fifty day simple moving average is $163.27 and its two-hundred day simple moving average is $169.12. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % 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, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, UBS Group reduced their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $184.11.

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.