STAR Financial Bank Sells 1,440 Shares of Alphabet Inc. (NASDAQ:GOOG)

21 Nov 2024, 17:52 by Michael Walen · The Markets Daily

STAR Financial Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 41.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,043 shares of the information services provider’s stock after selling 1,440 shares during the quarter. STAR Financial Bank’s holdings in Alphabet were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Read Our Latest Stock Report on GOOG

Alphabet Stock Down 1.3 %

Alphabet stock opened at $177.33 on Thursday. The business has a fifty day moving average price of $168.65 and a 200-day moving average price of $171.91. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,295 shares of company stock worth $30,698,791. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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