Alphabet Inc. $GOOG Shares Sold by Trust Co. of Toledo NA OH

Key Points

• Trust Co. of Toledo NA OH has reduced its stake in Alphabet Inc. by 3.2%, holding 50,081 shares valued at approximately $8.88 million as of the end of the second quarter.
• Significant investments were reported from other firms, with Kingstone Capital Partners increasing its stake by 580,897.4% during the same quarter, now owning shares worth $23.96 billion.
• Alphabet recently announced a quarterly dividend of $0.21, which represents an annualized yield of 0.3% and a payout ratio of 8.95%.

Trust Co. of Toledo NA OH lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,081 shares of the information services provider's stock after selling 1,677 shares during the quarter. Alphabet comprises approximately 1.0% of Trust Co. of Toledo NA OH's investment portfolio, making the stock its 19th biggest holding. Trust Co. of Toledo NA OH's holdings in Alphabet were worth $8,884,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in shares of 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 valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $2,622,943,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new position in shares of Alphabet during the first quarter valued at approximately $369,713,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,838 shares of company stock worth $53,070,333. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.6%

Shares of NASDAQ:GOOG opened at $246.19 on Wednesday. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average price of $228.96 and a 200 day moving average price of $191.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The company's revenue was up 13.8% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. Pivotal Research raised their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Finally, UBS Group set a $255.00 target price on shares of Alphabet and gave the stock a "neutral" rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $241.00.

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.

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