Keybank National Association OH Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Keybank National Association OH decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,265,667 shares of the information services provider's stock after selling 93,788 shares during the period. Alphabet accounts for 2.0% of Keybank National Association OH's investment portfolio, making the stock its 11th biggest holding. Keybank National Association OH's holdings in Alphabet were worth $505,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Yukon Wealth Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $1,676,000. Rossby Financial LCC raised its holdings in shares of Alphabet by 23.5% in the 1st quarter. Rossby Financial LCC now owns 9,510 shares of the information services provider's stock worth $1,540,000 after purchasing an additional 1,808 shares during the period. Phraction Management LLC raised its holdings in shares of Alphabet by 5.3% in the 1st quarter. Phraction Management LLC now owns 72,350 shares of the information services provider's stock worth $11,188,000 after purchasing an additional 3,665 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Alphabet by 19.7% in the 1st quarter. Summit Trail Advisors LLC now owns 204,927 shares of the information services provider's stock worth $31,690,000 after purchasing an additional 33,776 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Alphabet by 3.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 926,034 shares of the information services provider's stock worth $143,202,000 after purchasing an additional 33,147 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last 90 days. Insiders own 11.64% of the company's stock.

Alphabet Trading Up 1.3%

GOOGL traded up $2.26 during midday trading on Wednesday, reaching $176.62. 42,989,506 shares of the company's stock traded hands, compared to its average volume of 31,791,137. The firm has a fifty day moving average of $169.31 and a two-hundred day moving average of $173.67. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly 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. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company posted $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change 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 yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Mizuho reduced their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.13.

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.