Bank OZK Sells 134 Shares of Alphabet Inc. $GOOG

Bank OZK decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,138 shares of the information services provider’s stock after selling 134 shares during the period. Bank OZK’s holdings in Alphabet were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JDM Financial Group LLC raised its position in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 57 shares during the last quarter. Objectivity Squared LLC raised its position in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after purchasing an additional 62 shares during the last quarter. Tranquility Partners LLC grew its holdings in shares of Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after acquiring an additional 63 shares during the period. Stonebridge Financial Group LLC grew its holdings in shares of Alphabet by 0.6% during the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock worth $1,664,000 after acquiring an additional 64 shares during the period. Finally, True Wealth Design LLC grew its holdings in shares of Alphabet by 28.5% during the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock worth $56,000 after acquiring an additional 65 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock valued at $49,796,547 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Price Performance

NASDAQ GOOG opened at $204.29 on Tuesday. The business’s fifty day moving average price is $185.74 and its 200-day moving average price is $174.51. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

About Alphabet

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.