Trust Co of Kansas increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,688 shares of the information services provider's stock after purchasing an additional 4,492 shares during the quarter. Alphabet makes up approximately 4.2% of Trust Co of Kansas' portfolio, making the stock its 4th biggest position. Trust Co of Kansas' holdings in Alphabet were worth $8,757,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Rhumbline Advisers lifted its stake in Alphabet by 0.8% in the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock valued at $1,742,444,000 after buying an additional 86,670 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Alphabet by 3.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 56,875 shares of the information services provider's stock worth $8,795,000 after purchasing an additional 2,117 shares during the last quarter. Finally, First National Bank Sioux Falls raised its stake in shares of Alphabet by 18.2% during the first quarter. First National Bank Sioux Falls now owns 12,007 shares of the information services provider's stock worth $1,857,000 after purchasing an additional 1,848 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Down 0.5%
Alphabet stock opened at $244.62 on Thursday. 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 firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock's fifty day moving average is $224.37 and its two-hundred day moving average is $187.53.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $201.00 price target on shares of Alphabet in a research note on Wednesday, September 24th. Susquehanna upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. HSBC initiated coverage on Alphabet in a research note on Tuesday. They set a "buy" rating and a $285.00 price target for the company. Roth Capital upped their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $242.98.
Read Our Latest Analysis on Alphabet
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last three months. 11.64% of the stock is owned by insiders.
Alphabet Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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