Keybank National Association OH Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Keybank National Association OH cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 780,311 shares of the information services provider’s stock after selling 12,790 shares during the period. Keybank National Association OH’s holdings in Alphabet were worth $121,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after acquiring an additional 53 shares in the last quarter. Hutchinson Capital Management CA grew its position in shares of Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after purchasing an additional 54 shares during the last quarter. M. Kulyk & Associates LLC increased its stake in shares of Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock worth $1,227,000 after purchasing an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after purchasing an additional 56 shares during the last quarter. Finally, Concentrum Wealth Management lifted its stake in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after buying an additional 57 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,143 shares of company stock valued at $30,529,028 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOG shares. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.38.

Alphabet Stock Performance

NASDAQ:GOOG opened at $179.76 on Thursday. The company has a market cap of $2.18 trillion, a P/E ratio of 20.04, a P/E/G ratio of 1.25 and a beta of 1.01. The firm’s 50 day moving average is $169.27 and its two-hundred day moving average is $175.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.