Alphabet Inc. $GOOGL Stake Lessened by Alpine Bank Wealth Management

Alpine Bank Wealth Management lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,847 shares of the information services provider’s stock after selling 698 shares during the period. Alpine Bank Wealth Management’s holdings in Alphabet were worth $1,383,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOGL. Vanguard Group Inc. lifted its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% 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, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Down 0.1%

GOOGL opened at $245.35 on Friday. The firm has a market cap of $2.97 trillion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. 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 business has a 50 day moving average price of $221.25 and a 200 day moving average price of $185.96. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current 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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOOGL shares. Citigroup lifted their price target on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a report on Monday, September 15th. Canaccord Genuity Group raised their price objective on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. UBS Group increased their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

About Alphabet

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.