Alphabet Inc. $GOOG Stock Position Cut by Keybank National Association OH

Keybank National Association OH decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657,078 shares of the information services provider’s stock after selling 22,751 shares during the quarter. Alphabet accounts for approximately 0.7% of Keybank National Association OH’s investment portfolio, making the stock its 27th largest position. Keybank National Association OH’s holdings in Alphabet were worth $223,893,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cornerstone Wealth Management LLC lifted its holdings in shares of Alphabet by 8.1% in the third quarter. Cornerstone Wealth Management LLC now owns 35,143 shares of the information services provider’s stock worth $11,974,000 after acquiring an additional 2,637 shares during the last quarter. MKP Capital Management L.L.C. acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $62,015,000. Triton Wealth Management PLLC grew its holdings in shares of Alphabet by 13.8% during the 3rd quarter. Triton Wealth Management PLLC now owns 12,836 shares of the information services provider’s stock valued at $4,374,000 after purchasing an additional 1,559 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Alphabet by 2.6% during the 3rd quarter. Csenge Advisory Group now owns 13,926 shares of the information services provider’s stock valued at $4,745,000 after purchasing an additional 348 shares during the last quarter. Finally, D Orazio & Associates Inc. grew its holdings in shares of Alphabet by 1.0% during the 3rd quarter. D Orazio & Associates Inc. now owns 14,057 shares of the information services provider’s stock valued at $4,790,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $290.63 on Thursday. The stock has a 50-day moving average price of $326.81 and a two-hundred day moving average price of $336.38. Alphabet Inc. has a 12 month low of $271.41 and a 12 month high of $404.47. The company has a market capitalization of $3.57 trillion, a PE ratio of 15.17, a P/E/G ratio of 0.86 and a beta of 1.21. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). The firm had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.87 earnings per share. Analysts expect that Alphabet Inc. will post 19.74 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is 4.59%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 247 shares of company stock valued at $79,238. 12.99% of the stock is owned by company insiders.

Alphabet News Roundup

Investors following GOOG have been watching these news items:

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 29th. New Street Research cut their target price on shares of Alphabet from $455.00 to $405.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. JPMorgan Chase & Co. decreased their target price on shares of Alphabet from $425.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $475.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $325.00 price target on shares of Alphabet in a report on Thursday, October 29th. Six analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $413.38.

Check Out Our Latest Analysis on Alphabet

Alphabet Company Profile

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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