Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 74,140 shares of the information services provider’s stock after selling 3,937 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Alphabet were worth $11,583,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth $5,166,070,000. GAMMA Investing LLC lifted its position in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. GQG Partners LLC lifted its position in shares of Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.7%

NASDAQ GOOG opened at $185.94 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s fifty day moving average is $174.02 and its two-hundred day moving average is $174.61. The firm has a market cap of $2.26 trillion, a PE ratio of 20.73, a P/E/G ratio of 1.29 and a beta of 1.01.

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

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,843 shares of company stock worth $37,288,490 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Finally, Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

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.