Alphabet Inc. $GOOG Shares Sold by Quintet Private Bank Europe S.A.

by · The Markets Daily

Quintet Private Bank Europe S.A. cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 200,754 shares of the information services provider’s stock after selling 21,281 shares during the period. Alphabet accounts for 2.1% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 11th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $35,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC increased its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after purchasing an additional 20,855 shares during the period. Stuart Chaussee & Associates Inc. increased its holdings in shares of Alphabet by 24.1% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 2,277 shares of the information services provider’s stock valued at $434,000 after purchasing an additional 442 shares during the period. Strive Asset Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $2,555,000. Finally, Strategic Wealth Partners Ltd. increased its holdings in shares of Alphabet by 0.7% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 28,916 shares of the information services provider’s stock valued at $5,433,000 after purchasing an additional 205 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.2%

Shares of GOOG stock opened at $241.38 on Monday. The stock has a 50-day simple moving average of $202.67 and a 200 day simple moving average of $178.92. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. 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 announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect 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 will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the 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 transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOG. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Finally, Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.

Get Our Latest Analysis on Alphabet

Alphabet Profile

(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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