Alphabet Inc. $GOOG Shares Sold by Emprise Bank
by Teresa Graham · The Cerbat GemEmprise Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,010 shares of the information services provider’s stock after selling 359 shares during the period. Alphabet comprises approximately 0.9% of Emprise Bank’s holdings, making the stock its 26th biggest position. Emprise Bank’s holdings in Alphabet were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC grew its holdings in 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 acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC bought a new position in Alphabet during the first quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet during the first quarter worth $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
NASDAQ:GOOG opened at $251.42 on Wednesday. The business’s 50-day moving average price is $205.68 and its 200 day moving average price is $179.98. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $253.23. 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 released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued 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 of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.
Insider Activity
In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,588 shares of company stock valued at $44,296,554 over the last quarter. Insiders own 12.99% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Finally, BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $227.56.
Get Our Latest Stock Analysis on Alphabet
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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