Alphabet Inc. (NASDAQ:GOOGL) is Umpqua Bank’s 9th Largest Position

Umpqua Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,754 shares of the information services provider’s stock after selling 965 shares during the period. Alphabet accounts for 2.7% of Umpqua Bank’s portfolio, making the stock its 9th biggest position. Umpqua Bank’s holdings in Alphabet were worth $7,257,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. increased its stake in shares of Alphabet by 0.8% during the third quarter. White Lighthouse Investment Management Inc. now owns 9,480 shares of the information services provider’s stock valued at $1,572,000 after purchasing an additional 74 shares in the last quarter. Armor Investment Advisors LLC increased its position in Alphabet by 2.5% during the 3rd quarter. Armor Investment Advisors LLC now owns 9,739 shares of the information services provider’s stock valued at $1,615,000 after buying an additional 233 shares in the last quarter. Foster & Motley Inc. raised its stake in Alphabet by 11.3% during the third quarter. Foster & Motley Inc. now owns 10,227 shares of the information services provider’s stock valued at $1,696,000 after buying an additional 1,040 shares during the last quarter. Radnor Capital Management LLC boosted its holdings in Alphabet by 9.4% in the third quarter. Radnor Capital Management LLC now owns 27,683 shares of the information services provider’s stock worth $4,591,000 after acquiring an additional 2,385 shares in the last quarter. Finally, AHL Investment Management Inc. purchased a new stake in shares of Alphabet in the third quarter worth $821,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock valued at $30,698,791 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Up 1.6 %

GOOGL opened at $178.12 on Wednesday. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $166.74 and its 200 day moving average is $170.36. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 10.61%.

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.