Peoples Bank OH Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Peoples Bank OH trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 21.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,357 shares of the information services provider’s stock after selling 1,189 shares during the quarter. Peoples Bank OH’s holdings in Alphabet were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GOOGL. Harbour Trust & Investment Management Co lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $3,119,000. Cypress Capital LLC increased its holdings in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the last quarter. Optivise Advisory Services LLC raised its position in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the period. Finally, Community Bank N.A. grew its holdings in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,343 shares of company stock worth $31,296,140. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $182.97 on Thursday. The stock has a market cap of $2.22 trillion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $171.67 and a 200-day moving average price of $173.20. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 9.36%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Needham & Company LLC upped their price target on shares of Alphabet from $178.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus lowered their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Westpark Capital reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.86.

Alphabet Company 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.