Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Keybank National Association OH

Keybank National Association OH decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 780,311 shares of the information services provider's stock after selling 12,790 shares during the quarter. Keybank National Association OH's holdings in Alphabet were worth $121,908,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter worth $26,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the first quarter worth about $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $38,000. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Scotiabank lowered their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Finally, Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $206.38.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.46 during midday trading on Thursday, hitting $180.22. The company had a trading volume of 13,287,389 shares, compared to its average volume of 21,127,656. The stock's fifty day moving average price is $169.27 and its 200-day moving average price is $175.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. Alphabet's revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,143 shares of company stock worth $30,529,028 in the last 90 days. Insiders own 12.99% of the company's stock.

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.