Alphabet Inc. $GOOG Shares Sold by Banque Transatlantique SA

Banque Transatlantique SA reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 846,433 shares of the information services provider’s stock after selling 106,773 shares during the quarter. Alphabet accounts for 4.2% of Banque Transatlantique SA’s investment portfolio, making the stock its 7th biggest holding. Banque Transatlantique SA’s holdings in Alphabet were worth $150,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GOOG. Dimension Capital Management LLC raised its position in Alphabet by 0.4% during the 2nd quarter. Dimension Capital Management LLC now owns 13,968 shares of the information services provider’s stock worth $2,478,000 after buying an additional 50 shares during the last quarter. Challenger Wealth Management increased its stake in shares of Alphabet by 4.0% during the second quarter. Challenger Wealth Management now owns 1,335 shares of the information services provider’s stock worth $237,000 after acquiring an additional 51 shares during the period. REDW Wealth LLC raised its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares in the last quarter. GDS Wealth Management lifted its position in Alphabet by 2.4% in the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after purchasing an additional 54 shares during the period. Finally, ACT Advisors LLC. lifted its position in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 228,906 shares of company stock worth $62,127,158 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Bank of America upped their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday, November 24th. Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $313.04.

Alphabet Trading Down 1.0%

NASDAQ:GOOG opened at $310.52 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $283.75 and a 200-day simple moving average of $229.94. The company has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.