Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Arvest Bank Trust Division

Arvest Bank Trust Division lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,989 shares of the information services provider's stock after selling 2,248 shares during the quarter. Arvest Bank Trust Division's holdings in Alphabet were worth $7,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Principal Financial Group Inc. boosted its position in Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Passumpsic Savings Bank boosted its position in Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock valued at $779,000 after purchasing an additional 1,294 shares in the last quarter. SOA Wealth Advisors LLC. boosted its position in Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock valued at $6,199,000 after purchasing an additional 202 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in Alphabet by 6.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after buying an additional 130 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its stake in Alphabet by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after buying an additional 22,169 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 over the last three months. Insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOGL shares. Wells Fargo & Company decreased their price target on Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research note on Thursday, April 10th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Truist Financial decreased their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Westpark Capital upgraded Alphabet to a "strong-buy" rating in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $3.67 during mid-day trading on Wednesday, reaching $155.14. The company's stock had a trading volume of 12,266,528 shares, compared to its average volume of 28,249,558. The stock has a 50-day moving average of $163.72 and a two-hundred day moving average of $175.61. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 19.27, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

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.