Trust Co. of Oklahoma Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Trust Co. of Oklahoma reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,949 shares of the information services provider’s stock after selling 1,037 shares during the quarter. Trust Co. of Oklahoma’s holdings in Alphabet were worth $1,831,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Swedbank AB lifted its stake in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after buying an additional 51,226 shares in the last quarter. Zhang Financial LLC lifted its stake in Alphabet by 1.0% in the 3rd quarter. Zhang Financial LLC now owns 13,583 shares of the information services provider’s stock valued at $2,271,000 after buying an additional 129 shares in the last quarter. Hayek Kallen Investment Management lifted its stake in Alphabet by 5.3% in the 3rd quarter. Hayek Kallen Investment Management now owns 1,990 shares of the information services provider’s stock valued at $333,000 after buying an additional 100 shares in the last quarter. Birch Capital Management LLC lifted its stake in Alphabet by 1.8% in the 3rd quarter. Birch Capital Management LLC now owns 31,132 shares of the information services provider’s stock valued at $5,205,000 after buying an additional 564 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its stake in Alphabet by 1.0% in the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 26,172 shares of the information services provider’s stock valued at $4,412,000 after buying an additional 266 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.1 %

NASDAQ GOOG traded up $0.16 on Tuesday, reaching $166.51. The stock had a trading volume of 8,239,566 shares, compared to its average volume of 19,686,092. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.63, 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 Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a fifty day moving average price of $162.92 and a two-hundred day moving average price of $169.47.

Alphabet (NASDAQ:GOOG) last announced 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOG shares. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer lowered their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $186.90.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

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.