Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,140 shares of the information services provider's stock after selling 3,937 shares during the period. Atlantic Union Bankshares Corp's holdings in Alphabet were worth $11,583,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOOG. FMR LLC raised its holdings in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after buying an additional 1,219,606 shares during the period. Capital International Investors raised its holdings in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after buying an additional 5,758,244 shares during the period. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after buying an additional 294,556 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock valued at $37,288,490 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.7%

Shares of Alphabet stock traded up $1.24 during trading on Friday, reaching $185.94. The company's stock had a trading volume of 20,915,424 shares, compared to its average volume of 21,587,144. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a 50-day simple moving average of $174.02 and a two-hundred day simple moving average of $174.61.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOG shares. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. UBS Group raised their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Alphabet 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.