Trust Co of Kansas Has $6.99 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Trust Co of Kansas cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,196 shares of the information services provider's stock after selling 4,839 shares during the quarter. Alphabet makes up 3.7% of Trust Co of Kansas' portfolio, making the stock its 8th largest position. Trust Co of Kansas' holdings in Alphabet were worth $6,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at $24,383,677,000. FMR LLC lifted its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC grew its holdings in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp increased its position in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,195 shares of company stock valued at $35,764,898 in the last 90 days. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Piper Sandler upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wedbush set a $190.00 price target on shares of Alphabet and gave the company an "outperform" rating in a report on Tuesday, April 15th. Finally, KeyCorp boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Trading Up 2.9%

Shares of Alphabet stock opened at $178.53 on Monday. The firm's 50 day moving average is $166.45 and its 200 day moving average is $174.26. The firm has a market capitalization of $2.17 trillion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. 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 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

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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