Alphabet Inc. (NASDAQ:GOOG) Stake Lifted by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 9,496 shares of the information services provider’s stock after buying an additional 585 shares during the period. Independence Bank of Kentucky’s holdings in Alphabet were worth $1,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rappaport Reiches Capital Management LLC lifted its stake in Alphabet by 1.2% during the third quarter. Rappaport Reiches Capital Management LLC now owns 14,226 shares of the information services provider’s stock valued at $2,379,000 after purchasing an additional 166 shares during the last quarter. San Luis Wealth Advisors LLC lifted its stake in Alphabet by 53.8% during the third quarter. San Luis Wealth Advisors LLC now owns 8,552 shares of the information services provider’s stock valued at $1,430,000 after purchasing an additional 2,993 shares during the last quarter. Beaumont Financial Advisors LLC lifted its stake in Alphabet by 4.4% during the third quarter. Beaumont Financial Advisors LLC now owns 27,567 shares of the information services provider’s stock valued at $4,609,000 after purchasing an additional 1,164 shares during the last quarter. Albion Financial Group UT lifted its stake in Alphabet by 4.6% during the third quarter. Albion Financial Group UT now owns 12,554 shares of the information services provider’s stock valued at $2,099,000 after purchasing an additional 555 shares during the last quarter. Finally, Westwind Capital lifted its position in shares of Alphabet by 381.6% in the 3rd quarter. Westwind Capital now owns 119,328 shares of the information services provider’s stock valued at $19,950,000 after acquiring an additional 94,550 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on GOOG. Oppenheimer reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 target price for the company. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Up 0.3 %

Shares of GOOG traded up $0.45 during mid-day trading on Friday, hitting $163.63. 1,364,766 shares of the company’s stock were exchanged, compared to its average volume of 19,744,822. The firm has a fifty day moving average of $162.89 and a two-hundred day moving average of $169.03. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 11.48%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’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 sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 12.99% of the stock is currently owned by corporate insiders.

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.