Zions Bancorporation National Association UT Buys 6,953 Shares of Alphabet Inc. $GOOGL

by · The Markets Daily

Zions Bancorporation National Association UT lifted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,588 shares of the information services provider’s stock after buying an additional 6,953 shares during the quarter. Alphabet makes up about 0.6% of Zions Bancorporation National Association UT’s investment portfolio, making the stock its 21st largest position. Zions Bancorporation National Association UT’s holdings in Alphabet were worth $11,735,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Alphabet by 4.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 82,097 shares of the information services provider’s stock worth $14,468,000 after buying an additional 3,630 shares in the last quarter. Future Fund LLC grew its holdings in Alphabet by 13.8% during the 2nd quarter. Future Fund LLC now owns 23,283 shares of the information services provider’s stock valued at $4,103,000 after buying an additional 2,817 shares in the last quarter. Winthrop Capital Management LLC increased its stake in Alphabet by 0.9% in the 2nd quarter. Winthrop Capital Management LLC now owns 21,365 shares of the information services provider’s stock worth $3,765,000 after acquiring an additional 191 shares during the last quarter. Summit Asset Management LLC raised its holdings in shares of Alphabet by 11.7% during the 2nd quarter. Summit Asset Management LLC now owns 3,006 shares of the information services provider’s stock worth $530,000 after acquiring an additional 314 shares in the last quarter. Finally, Midwest Trust Co bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $139,470,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Cantor Fitzgerald upped their price target on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Guggenheim boosted their price objective on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

View Our Latest Report on GOOGL

Alphabet Price Performance

Shares of GOOGL stock opened at $299.66 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $306.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a 50 day moving average price of $262.39 and a 200 day moving average price of $213.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,174 shares of company stock worth $58,095,223 in the last three months. Corporate insiders own 11.64% of the company’s stock.

About Alphabet

(Free Report)

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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