Arvest Bank Trust Division Decreases Stock Holdings in Alphabet Inc. $GOOG

Arvest Bank Trust Division cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,201 shares of the information services provider’s stock after selling 208 shares during the quarter. Arvest Bank Trust Division’s holdings in Alphabet were worth $1,632,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOG. RDA Financial Network grew its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet during the second quarter valued at approximately $213,000. Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. raised its stake in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 221,796 shares of company stock valued at $53,983,001. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. DA Davidson set a $825.00 price target on Alphabet in a report on Monday, October 27th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a report on Thursday, October 30th. TD Cowen increased their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Price Performance

Shares of GOOG stock opened at $279.12 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $292.36. 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 firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05. The stock’s 50-day simple moving average is $257.00 and its 200-day simple moving average is $208.69.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business earned $2.12 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.