Dorsey & Whitney Trust CO LLC Sells 17,697 Shares of Alphabet Inc. $GOOG

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% during the first quarter, Holdings Channel.com reports. The firm owned 196,950 shares of the information services provider’s stock after selling 17,697 shares during the quarter. Alphabet accounts for approximately 1.8% of Dorsey & Whitney Trust CO LLC’s portfolio, making the stock its 10th biggest position. Dorsey & Whitney Trust CO LLC’s holdings in Alphabet were worth $30,770,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter valued at about $32,000. Goodman Advisory Group LLC bought a new position in Alphabet during the first quarter valued at about $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Alphabet during the fourth quarter valued at about $53,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.9%

NASDAQ:GOOG opened at $202.49 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The stock has a fifty day simple moving average of $186.19 and a 200 day simple moving average of $174.71.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,319 shares of company stock valued at $44,243,272 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

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.