Alpine Bank Wealth Management Decreases Stock Holdings in Alphabet Inc. $GOOG

Alpine Bank Wealth Management decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,260 shares of the information services provider’s stock after selling 126 shares during the quarter. Alphabet accounts for approximately 0.5% of Alpine Bank Wealth Management’s holdings, making the stock its 28th biggest position. Alpine Bank Wealth Management’s holdings in Alphabet were worth $3,594,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. ACT Advisors LLC. raised its position in Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management grew its stake in shares of Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates grew its stake in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC grew its stake in shares of Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 57 shares during the period. Finally, NCM Capital Management LLC grew its stake in shares of Alphabet by 2.2% during the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock valued at $438,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.3%

Shares of NASDAQ:GOOG opened at $243.55 on Wednesday. The stock has a 50 day moving average of $218.70 and a 200 day moving average of $185.47. The company has a market cap of $2.95 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. 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 Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,469 shares of company stock worth $46,586,752. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOG shares. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. boosted their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $230.35.

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.