Trust Co. of Oklahoma Trims Position in Alphabet Inc. $GOOG

Trust Co. of Oklahoma lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,203 shares of the information services provider’s stock after selling 237 shares during the period. Trust Co. of Oklahoma’s holdings in Alphabet were worth $1,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GOOG. Nuveen LLC purchased a new position in shares of Alphabet during the 1st quarter worth $2,622,943,000. GAMMA Investing LLC raised its holdings in shares of 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 worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet during the 4th quarter worth $786,942,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Pivotal Research raised their price objective on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $241.38 on Monday. The company has a market cap of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day moving average of $202.67 and a two-hundred day moving average of $178.92. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57.

Alphabet (NASDAQ:GOOG) last released its 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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.