Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cadence Bank

Cadence Bank trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,674 shares of the information services provider’s stock after selling 339 shares during the period. Cadence Bank’s holdings in Alphabet were worth $3,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Group Private Client Services Inc. grew its position in Alphabet by 2.2% during the 4th quarter. Capital Group Private Client Services Inc. now owns 2,040,236 shares of the information services provider’s stock worth $388,543,000 after purchasing an additional 43,468 shares during the last quarter. Capital International Investors boosted its stake in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after buying an additional 5,758,244 shares during the period. Capital International Sarl grew its holdings in shares of Alphabet by 7.0% during the fourth quarter. Capital International Sarl now owns 412,680 shares of the information services provider’s stock worth $78,591,000 after buying an additional 26,890 shares during the last quarter. Arvest Bank Trust Division increased its position in Alphabet by 2.7% in the 4th quarter. Arvest Bank Trust Division now owns 9,055 shares of the information services provider’s stock valued at $1,724,000 after acquiring an additional 238 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in Alphabet by 9.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 4,024,516 shares of the information services provider’s stock valued at $766,037,000 after acquiring an additional 342,101 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,663 shares of company stock worth $20,286,447 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GOOG shares. UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $210.88.

Alphabet Stock Down 1.4 %

GOOG opened at $153.36 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The business’s fifty day moving average is $167.84 and its two-hundred day moving average is $177.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.