Exchange Bank Has $1.12 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Exchange Bank cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 20.7% during the 1st quarter, Holdings Channel reports. The fund owned 7,377 shares of the information services provider’s stock after selling 1,931 shares during the period. Exchange Bank’s holdings in Alphabet were worth $1,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter worth about $26,000. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the 4th quarter worth about $34,000. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock worth $26,375,053 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Read Our Latest Stock Report on Alphabet

Alphabet Trading Up 2.6 %

GOOG traded up $4.79 during trading on Tuesday, reaching $185.58. The company had a trading volume of 18,886,811 shares, compared to its average volume of 21,433,221. The stock has a market cap of $2.29 trillion, a P/E ratio of 28.13, a PEG ratio of 1.35 and a beta of 1.01. The business has a 50 day simple moving average of $172.10 and a 200-day simple moving average of $154.41. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $185.75. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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