Alphabet Inc. (NASDAQ:GOOG) Shares Sold by STAR Financial Bank

STAR Financial Bank reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 41.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,043 shares of the information services provider’s stock after selling 1,440 shares during the quarter. STAR Financial Bank’s holdings in Alphabet were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. grew its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet in the 2nd quarter worth $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOG shares. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock worth $30,698,791 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.3 %

Shares of NASDAQ GOOG opened at $177.33 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.17 trillion, a PE ratio of 23.52, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock has a fifty day simple moving average of $168.65 and a 200-day simple moving average of $171.91.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.