PICTET BANK & TRUST Ltd lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,048 shares of the information services provider's stock after selling 2,748 shares during the quarter. Alphabet accounts for about 3.7% of PICTET BANK & TRUST Ltd's portfolio, making the stock its 10th largest holding. PICTET BANK & TRUST Ltd's holdings in Alphabet were worth $3,181,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Bfsg LLC raised its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after purchasing an additional 59 shares during the period. Enzi Wealth raised its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the period. Park Capital Management LLC WI raised its holdings in Alphabet by 1.1% in the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock worth $1,058,000 after purchasing an additional 65 shares during the period. Wolff Financial Management LLC raised its holdings in Alphabet by 2.6% in the 2nd quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider's stock worth $464,000 after purchasing an additional 66 shares during the period. Finally, Whipplewood Advisors LLC raised its holdings in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the transaction, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company'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 in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. Insiders own 11.64% of the company's stock.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of analyst reports. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Guggenheim boosted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $201.00 price objective on shares of Alphabet in a research note on Wednesday. Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, KeyCorp boosted their price objective on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.44.
View Our Latest Analysis on GOOGL
Alphabet Price Performance
GOOGL stock opened at $246.54 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $215.93 and a 200-day simple moving average of $183.03. The firm has a market capitalization of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during 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%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.
About Alphabet
(
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.
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