Crews Bank & Trust Lowers Stock Holdings in Alphabet Inc. $GOOGL

Crews Bank & Trust decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,979 shares of the information services provider’s stock after selling 292 shares during the quarter. Alphabet accounts for about 0.7% of Crews Bank & Trust’s holdings, making the stock its 28th biggest position. Crews Bank & Trust’s holdings in Alphabet were worth $4,578,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. boosted its position in Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG boosted its position in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOGL. Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a research report on Tuesday. Loop Capital restated a “hold” rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. KeyCorp upped their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.62.

Alphabet Stock Performance

Shares of GOOGL stock opened at $241.53 on Friday. The firm has a market capitalization of $2.92 trillion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The firm has a fifty day simple moving average of $225.37 and a two-hundred day simple moving average of $188.04. 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 $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

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.