Greenleaf Trust Decreases Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Greenleaf Trust has decreased its holdings in Alphabet Inc. by 4.7%, resulting in ownership of 292,255 shares valued at approximately $51.5 million.
• Analysts have set new price targets for GOOGL shares, with Roth Capital raising it to $210 and JMP Securities increasing it to $290, indicating a generally positive outlook.
• Recent insider transactions include CEO Sundar Pichai selling 32,500 shares, representing a significant decrease in his position, highlighting potential insider sentiment about the stock.

Greenleaf Trust reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,255 shares of the information services provider's stock after selling 14,286 shares during the quarter. Alphabet accounts for 0.5% of Greenleaf Trust's portfolio, making the stock its 17th largest position. Greenleaf Trust's holdings in Alphabet were worth $51,504,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Missouri Trust & Investment Co boosted its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock valued at $2,981,000 after purchasing an additional 55 shares during the period. AM Investment Strategies LLC boosted its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after purchasing an additional 57 shares during the period. Bfsg LLC boosted its stake in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after purchasing an additional 59 shares during the period. Enzi Wealth boosted its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Finally, Park Capital Management LLC WI boosted its stake in shares of Alphabet by 1.1% in the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock valued at $1,058,000 after purchasing an additional 65 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOGL shares. Roth Capital upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. JMP Securities upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday, September 19th. Barclays upped their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.76.

Alphabet Stock Down 0.1%

Shares of NASDAQ:GOOGL opened at $245.35 on Monday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company's fifty day moving average is $221.25 and its two-hundred day moving average is $186.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This trade represents a 1.33% 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, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is owned by company insiders.

Alphabet Company 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.

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