Peoples Financial Services CORP. Has $2.40 Million Holdings in Alphabet Inc. $GOOGL

Peoples Financial Services CORP. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,632 shares of the information services provider’s stock after selling 1,327 shares during the quarter. Alphabet makes up approximately 1.2% of Peoples Financial Services CORP.’s holdings, making the stock its 22nd largest holding. Peoples Financial Services CORP.’s holdings in Alphabet were worth $2,402,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the 1st quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho set a $295.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Monday. Roth Capital raised their price target on Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Finally, Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.76.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $245.35 on Friday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The business has a 50-day moving average of $221.25 and a 200-day moving average of $185.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.