Alphabet Inc. $GOOG Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft significantly reduced its holdings in Alphabet Inc. by 80.4%, selling 95,174 shares during the second quarter, leaving it with around 23,266 shares worth approximately $3.99 million.
• Several institutional investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, have enhanced their stakes in Alphabet, highlighting continued interest from the market despite recent selling activities.
• Alphabet announced a quarterly dividend of $0.21 per share, yielding about 0.3%, with a payout ratio of 8.95%, reflecting the company's focus on returning value to shareholders.

Baader Bank Aktiengesellschaft decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 80.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,266 shares of the information services provider's stock after selling 95,174 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Alphabet were worth $3,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Alphabet by 3.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 727,255 shares of the information services provider's stock valued at $129,008,000 after acquiring an additional 20,882 shares during the last quarter. Brooklyn FI LLC boosted its stake in shares of Alphabet by 158.9% during the second quarter. Brooklyn FI LLC now owns 15,121 shares of the information services provider's stock valued at $2,682,000 after purchasing an additional 9,280 shares during the period. Signal Advisors Wealth LLC grew its holdings in shares of Alphabet by 10.7% in the second quarter. Signal Advisors Wealth LLC now owns 6,345 shares of the information services provider's stock worth $1,126,000 after purchasing an additional 611 shares during the last quarter. Arbor Wealth Advisors LLC grew its holdings in shares of Alphabet by 2.4% in the second quarter. Arbor Wealth Advisors LLC now owns 2,688 shares of the information services provider's stock worth $477,000 after purchasing an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. increased its stake in Alphabet by 3.2% in the 2nd quarter. Sunflower Bank N.A. now owns 11,770 shares of the information services provider's stock worth $2,088,000 after buying an additional 362 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GOOG. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Finally, Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Up 1.2%

Alphabet stock traded up $2.91 during trading hours on Friday, reaching $255.24. The stock had a trading volume of 41,503,403 shares, compared to its average volume of 24,489,492. The company has a market cap of $3.09 trillion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.70 and a beta of 1.01. The business's 50 day moving average price is $210.08 and its 200-day moving average price is $181.61. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. 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:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company's quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is currently owned by corporate insiders.

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.