Greenleaf Trust Cuts Stake in Alphabet Inc. $GOOG

Greenleaf Trust cut its position in Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 375,174 shares of the information services provider’s stock after selling 30,927 shares during the period. Alphabet makes up about 0.6% of Greenleaf Trust’s investment portfolio, making the stock its 14th largest holding. Greenleaf Trust’s holdings in Alphabet were worth $66,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. ACT Advisors LLC. grew its holdings in shares of Alphabet by 3.5% during the second 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 in the last quarter. LongView Wealth Management lifted its stake in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares in the last quarter. Kooman & Associates boosted its position in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC boosted its position in Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after acquiring an additional 57 shares during the last quarter. Finally, NCM Capital Management LLC grew its stake in 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 acquiring an additional 60 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.35.

Alphabet Stock Performance

NASDAQ GOOG opened at $245.54 on Thursday. The stock has a fifty day simple moving average of $219.78 and a 200-day simple moving average of $185.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.97 trillion, a PE ratio of 26.15, a P/E/G ratio of 1.64 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

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

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,285 shares of company stock worth $50,994,787. Company 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.