Keybank National Association OH Sells 16,090 Shares of Alphabet Inc. $GOOG

Keybank National Association OH lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,221 shares of the information services provider’s stock after selling 16,090 shares during the quarter. Keybank National Association OH’s holdings in Alphabet were worth $135,565,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley increased its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC increased its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.0%

GOOG opened at $281.82 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.41 trillion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a fifty day moving average price of $244.59 and a two-hundred day moving average price of $200.68.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. Oppenheimer increased their target price on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday. Piper Sandler increased their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.