Alphabet Inc. $GOOG Holdings Trimmed by Norway Savings Bank

Norway Savings Bank lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,253 shares of the information services provider’s stock after selling 146 shares during the quarter. Norway Savings Bank’s holdings in Alphabet were worth $222,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. JDM Financial Group LLC raised its stake in shares of Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after purchasing an additional 57 shares in the last quarter. NCM Capital Management LLC raised its stake in shares of Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock valued at $438,000 after acquiring an additional 60 shares in the last quarter. Faithward Advisors LLC raised its stake in shares of Alphabet by 2.5% in the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider’s stock valued at $391,000 after acquiring an additional 61 shares in the last quarter. Objectivity Squared LLC raised its stake in shares of Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after acquiring an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC raised its stake in shares of Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $241.38 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57. The firm has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. The business’s 50 day moving average is $202.67 and its 200-day moving average is $178.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm earned $1.89 EPS. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Pivotal Research raised their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $227.56.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.