UMB Bank n.a. Sells 66,556 Shares of Alphabet Inc. $GOOGL

Key Points

• UMB Bank n.a. reduced its holdings in Alphabet Inc. by 8.5%, selling 66,556 shares, resulting in a total of 712,849 shares that account for approximately 2.0% of their portfolio valued at $125.63 million.
• Alphabet reported a quarterly earnings per share of $2.31, surpassing estimates, with revenues reaching $96.43 billion, significantly higher than the projected $93.60 billion.
• Recent insider trades included CEO Sundar Pichai selling 32,500 shares for over $7.4 million, while overall, insiders have sold 258,088 shares worth approximately $52.4 million over the last quarter.

UMB Bank n.a. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 712,849 shares of the information services provider's stock after selling 66,556 shares during the quarter. Alphabet comprises approximately 2.0% of UMB Bank n.a.'s portfolio, making the stock its 10th biggest holding. UMB Bank n.a.'s holdings in Alphabet were worth $125,625,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Myecfo LLC lifted its position in Alphabet by 1.4% during the second quarter. Myecfo LLC now owns 12,588 shares of the information services provider's stock worth $2,218,000 after buying an additional 171 shares during the period. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Alphabet by 2.6% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 32,690 shares of the information services provider's stock worth $5,761,000 after purchasing an additional 840 shares during the period. Wright Investors Service Inc. raised its holdings in shares of Alphabet by 37.4% in the 2nd quarter. Wright Investors Service Inc. now owns 41,318 shares of the information services provider's stock worth $7,281,000 after purchasing an additional 11,243 shares during the period. My Legacy Advisors LLC raised its holdings in shares of Alphabet by 6.2% in the 2nd quarter. My Legacy Advisors LLC now owns 22,216 shares of the information services provider's stock worth $3,946,000 after purchasing an additional 1,304 shares during the period. Finally, Lantz Financial LLC raised its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 5,827 shares of the information services provider's stock worth $1,027,000 after purchasing an additional 73 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.9%

Shares of NASDAQ GOOGL opened at $252.53 on Tuesday. The company has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $210.78 and its 200 day simple moving average is $180.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. BMO Capital Markets raised their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada raised their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $231.31.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. Insiders own 11.55% 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.

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