Stock Yards Bank & Trust Co. Cuts Position in Alphabet Inc. $GOOG

Key Points

• Stock Yards Bank & Trust Co. reduced its position in Alphabet Inc. by 3.1%, now owning 66,984 shares valued at approximately $11.88 million.
• Several institutional investors, including Kingstone Capital Partners and Vanguard Group, significantly increased their stakes in Alphabet during the last quarter.
• Alphabet's CEO, Sundar Pichai, sold 32,500 shares for about $7.91 million, decreasing his ownership by 1.33% to approximately 2.4 million shares.

Stock Yards Bank & Trust Co. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,984 shares of the information services provider's stock after selling 2,121 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Alphabet were worth $11,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC grew its holdings in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $2,622,943,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new position in Alphabet during the 1st quarter valued at about $369,713,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last quarter. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOG shares. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research report on Saturday, September 27th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Alphabet Trading Up 0.0%

Shares of NASDAQ:GOOG opened at $246.45 on Monday. The business's 50 day moving average price is $221.89 and its 200-day moving average price is $187.31. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors 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 yield of 0.3%. Alphabet's dividend payout ratio (DPR) 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.

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