Stock Yards Bank & Trust Co. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 478,989 shares of the information services provider's stock after purchasing an additional 6,134 shares during the period. Alphabet accounts for 2.8% of Stock Yards Bank & Trust Co.'s portfolio, making the stock its 6th largest position. Stock Yards Bank & Trust Co.'s holdings in Alphabet were worth $84,412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% during 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 purchasing an additional 506 shares during the period. GAMMA Investing LLC lifted its position in Alphabet by 10.5% during the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock valued at $16,062,000 after purchasing an additional 9,900 shares during the period. Investment Partners Asset Management Inc. lifted its position in Alphabet by 1.4% during the first quarter. Investment Partners Asset Management Inc. now owns 17,534 shares of the information services provider's stock valued at $2,711,000 after purchasing an additional 241 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its stake in Alphabet by 2.2% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 20,302 shares of the information services provider's stock valued at $3,140,000 after buying an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the transaction, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.64% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on GOOGL shares. Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities increased their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Barclays upped their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Finally, Roth Capital boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $245.88.
Read Our Latest Research Report on Alphabet
Alphabet Stock Performance
Alphabet stock opened at $236.57 on Friday. The firm has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The company's 50-day moving average is $226.31 and its 200 day moving average is $188.49. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
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.
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