Stock Yards Bank & Trust Co. Has $10.80 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Stock Yards Bank & Trust Co. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 69,105 shares of the information services provider’s stock after selling 2,492 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Alphabet were worth $10,796,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOG. Norges Bank bought a new stake in Alphabet during the 4th quarter valued at $5,166,070,000. GAMMA Investing LLC increased its stake in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet during the 4th quarter valued at $1,551,533,000. Northern Trust Corp increased its stake in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC increased its stake in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.6%

Shares of Alphabet stock opened at $175.88 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $164.57 and its 200-day moving average price is $176.30.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Westpark Capital reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

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.