Alphabet Inc. $GOOG Shares Purchased by Perkins Coie Trust Co

Key Points

• Perkins Coie Trust Co has significantly increased its stake in Alphabet Inc. by 89.0%, acquiring a total of 9,719 shares now valued at approximately $1,724,000.
• Alphabet's CEO Sundar Pichai sold 32,500 shares worth $8.1 million, marking a 1.34% decrease in his ownership.
• The company reported a quarterly earnings per share (EPS) of $2.31, exceeding analyst expectations and reflecting a 13.8% increase in revenue year-over-year.

Perkins Coie Trust Co raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 89.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,719 shares of the information services provider's stock after purchasing an additional 4,576 shares during the period. Perkins Coie Trust Co's holdings in Alphabet were worth $1,724,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principia Wealth Advisory LLC boosted its stake in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter worth about $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet in the first quarter worth about $34,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock valued at $52,405,304. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Stock Performance

Alphabet stock traded down $3.26 during midday trading on Monday, hitting $251.98. 14,156,217 shares of the company were exchanged, compared to its average volume of 23,983,736. The firm has a market capitalization of $3.05 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business has a fifty day simple moving average of $210.08 and a two-hundred day simple moving average of $181.70. 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:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the company earned $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.