Quintet Private Bank Europe S.A. Decreases Stake in Alphabet Inc. $GOOG

Quintet Private Bank Europe S.A. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 200,754 shares of the information services provider's stock after selling 21,281 shares during the quarter. Alphabet comprises approximately 2.1% of Quintet Private Bank Europe S.A.'s holdings, making the stock its 11th largest holding. Quintet Private Bank Europe S.A.'s holdings in Alphabet were worth $35,612,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $241.38 on Monday. The business's 50 day moving average is $202.67 and its two-hundred day moving average is $178.92. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $242.57. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the company posted $1.89 EPS. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Raymond James Financial restated an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is currently owned by insiders.

About Alphabet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.