Alphabet Inc. $GOOGL Shares Sold by Peoples Bank OH

Peoples Bank OH trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,911 shares of the information services provider’s stock after selling 446 shares during the period. Peoples Bank OH’s holdings in Alphabet were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. increased its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its position in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC increased its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC increased its position in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC increased its position in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Thursday. Moffett Nathanson lifted their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Barclays lifted their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Truist Financial lifted their price target on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Morgan Stanley set a $270.00 price target on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $245.88.

Alphabet Stock Down 2.1%

Shares of Alphabet stock opened at $236.57 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a 50 day moving average of $226.31 and a 200 day moving average of $188.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred 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 in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Company 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.