Alphabet Inc. $GOOG is ANB Bank’s 10th Largest Position

ANB Bank lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 19.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,213 shares of the information services provider’s stock after selling 6,542 shares during the quarter. Alphabet makes up approximately 2.2% of ANB Bank’s holdings, making the stock its 10th biggest position. ANB Bank’s holdings in Alphabet were worth $4,827,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOOG. Western Wealth Management LLC lifted its stake in shares of Alphabet by 2.3% in the 2nd quarter. Western Wealth Management LLC now owns 37,912 shares of the information services provider’s stock valued at $6,725,000 after purchasing an additional 851 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Alphabet by 4.2% during the second quarter. Bell Investment Advisors Inc now owns 14,158 shares of the information services provider’s stock valued at $2,511,000 after buying an additional 571 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter worth about $2,956,000. Summitry LLC boosted its stake in shares of Alphabet by 38.7% during the 2nd quarter. Summitry LLC now owns 25,081 shares of the information services provider’s stock worth $4,449,000 after acquiring an additional 7,003 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of Alphabet by 5.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 2,590 shares of the information services provider’s stock worth $459,000 after acquiring an additional 141 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOG opened at $276.98 on Monday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.36. 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 stock has a market cap of $3.34 trillion, a P/E ratio of 27.32, a PEG ratio of 1.86 and a beta of 1.05. The company’s 50-day simple moving average is $257.84 and its 200 day simple moving average is $210.16.

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

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 221,796 shares of company stock worth $53,983,001 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. KeyCorp reissued an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Jefferies Financial Group raised their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.81.

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.