Baker Boyer National Bank Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Baker Boyer National Bank lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 46.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,473 shares of the information services provider's stock after selling 3,000 shares during the quarter. Baker Boyer National Bank's holdings in Alphabet were worth $543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Avantax Planning Partners Inc. grew its stake in Alphabet by 2.1% in the first quarter. Avantax Planning Partners Inc. now owns 9,192 shares of the information services provider's stock worth $1,436,000 after purchasing an additional 191 shares in the last quarter. Silver Oak Securities Incorporated boosted its position in Alphabet by 4.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 11,844 shares of the information services provider's stock valued at $1,848,000 after acquiring an additional 486 shares in the last quarter. Calamos Wealth Management LLC boosted its position in Alphabet by 27.4% during the 1st quarter. Calamos Wealth Management LLC now owns 71,286 shares of the information services provider's stock valued at $11,137,000 after acquiring an additional 15,328 shares in the last quarter. Aviance Capital Partners LLC boosted its position in Alphabet by 3.6% during the 1st quarter. Aviance Capital Partners LLC now owns 17,736 shares of the information services provider's stock valued at $2,771,000 after acquiring an additional 614 shares in the last quarter. Finally, Conning Inc. boosted its position in Alphabet by 1.4% during the 1st quarter. Conning Inc. now owns 27,230 shares of the information services provider's stock valued at $4,254,000 after acquiring an additional 364 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $0.46 during trading on Friday, reaching $180.22. 13,287,389 shares of the company's stock traded hands, compared to its average volume of 21,210,158. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. 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 firm has a market cap of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.01. The company has a 50-day simple moving average of $169.97 and a 200-day simple moving average of $175.49.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOG. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Scotiabank dropped their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.38.

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.