Centennial Bank AR Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Centennial Bank AR trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,615 shares of the information services provider’s stock after selling 1,075 shares during the period. Centennial Bank AR’s holdings in Alphabet were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new position in Alphabet in the first quarter valued at about $1,378,708,000. Capital International Investors lifted its stake in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after buying an additional 2,190,795 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock worth $37,776,954 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

GOOG opened at $172.65 on Monday. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $128.11 and a fifty-two week high of $193.31. The company’s 50-day moving average price is $163.81 and its 200 day moving average price is $170.63. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

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.