Burke & Herbert Bank & Trust Co. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Burke & Herbert Bank & Trust Co. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 92.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,818 shares of the information services provider’s stock after purchasing an additional 4,246 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Alphabet were worth $1,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $8,232,000. Stiles Financial Services Inc increased its position in shares of Alphabet by 6.6% during the 4th quarter. Stiles Financial Services Inc now owns 19,851 shares of the information services provider’s stock valued at $2,798,000 after purchasing an additional 1,237 shares during the last quarter. Executive Wealth Management LLC boosted its holdings in Alphabet by 8.0% during the 4th quarter. Executive Wealth Management LLC now owns 20,608 shares of the information services provider’s stock valued at $2,904,000 after acquiring an additional 1,530 shares during the period. Jmac Enterprises LLC boosted its holdings in Alphabet by 0.9% during the 4th quarter. Jmac Enterprises LLC now owns 19,850 shares of the information services provider’s stock valued at $2,797,000 after acquiring an additional 175 shares during the period. Finally, Charter Oak Capital Management LLC boosted its holdings in Alphabet by 16.0% during the 4th quarter. Charter Oak Capital Management LLC now owns 4,117 shares of the information services provider’s stock valued at $580,000 after acquiring an additional 568 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOG shares. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $182.86.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares in the company, valued at $391,132,665.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,108 shares of company stock worth $25,464,954. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of Alphabet stock traded up $1.98 during trading on Tuesday, reaching $165.93. The company’s stock had a trading volume of 12,685,695 shares, compared to its average volume of 20,505,332. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $178.39 and a two-hundred day simple moving average of $163.59. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

About Alphabet

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.