Zions Bancorporation N.A. Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Zions Bancorporation N.A. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.1% during the third quarter, Holdings Channel.com reports. The firm owned 8,803 shares of the information services provider’s stock after selling 1,686 shares during the quarter. Zions Bancorporation N.A.’s holdings in Alphabet were worth $1,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its stake 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 buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. raised its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter worth $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.7 %

Shares of NASDAQ GOOG opened at $177.35 on Friday. The firm’s 50 day moving average price is $166.20 and its 200 day moving average price is $171.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.17 trillion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOG. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.