Alphabet Inc. $GOOG Position Cut by Smithfield Trust Co

Smithfield Trust Co decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,652 shares of the information services provider’s stock after selling 357 shares during the quarter. Smithfield Trust Co’s holdings in Alphabet were worth $7,930,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GOOG. Cherokee Insurance Co bought a new stake in Alphabet in the 2nd quarter valued at about $497,000. Candriam S.C.A. grew its position in Alphabet by 3.9% in the 2nd quarter. Candriam S.C.A. now owns 950,766 shares of the information services provider’s stock worth $168,664,000 after purchasing an additional 35,977 shares during the last quarter. Impax Asset Management Group plc grew its position in Alphabet by 25.1% in the 2nd quarter. Impax Asset Management Group plc now owns 41,637 shares of the information services provider’s stock worth $7,386,000 after purchasing an additional 8,346 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Alphabet by 1.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 719,191 shares of the information services provider’s stock valued at $127,577,000 after purchasing an additional 12,477 shares during the period. Finally, Horrell Capital Management Inc. raised its holdings in shares of Alphabet by 100.0% during the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOG shares. Wolfe Research boosted their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Oppenheimer boosted their price target on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $279.12 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The firm has a market cap of $3.37 trillion, a P/E ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05. The stock has a fifty day moving average price of $257.00 and a two-hundred day moving average price of $208.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.