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Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Commerce Bank

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Key Points

  • Commerce Bank increased its holdings in Alphabet Inc. (GOOGL) by 0.2% in Q1, owning approximately 2.7% of its portfolio in the company, which is valued at $427.9 million.
  • Analyst ratings for Alphabet show a consensus of 29 buy ratings and only 4 strong buy ratings, with an average price target increase to $211.53.
  • Alphabet reported a quarterly EPS of $2.31, surpassing estimates, along with a recently declared $0.21 quarterly dividend with an annual yield of 0.4%.
  • Looking to Export and Analyze Alphabet Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Commerce Bank lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,767,091 shares of the information services provider's stock after acquiring an additional 5,117 shares during the period. Alphabet makes up approximately 2.7% of Commerce Bank's portfolio, making the stock its 5th biggest position. Commerce Bank's holdings in Alphabet were worth $427,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mystic Asset Management Inc. boosted its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its position in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $3,119,000. Cypress Capital LLC lifted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC grew its position in Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Loop Capital reissued a "hold" rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday. Finally, Needham & Company LLC lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.

Read Our Latest Stock Report on Alphabet

Alphabet Stock Performance

NASDAQ GOOGL opened at $201.42 on Friday. The company has a 50-day simple moving average of $180.89 and a two-hundred day simple moving average of $173.15. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.33 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 11.64% of the company's stock.

Alphabet Company Profile

(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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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