Dakota Community Bank & Trust NA Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Dakota Community Bank & Trust NA trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet makes up about 2.4% of Dakota Community Bank & Trust NA’s portfolio, making the stock its 7th biggest holding. Dakota Community Bank & Trust NA’s holdings in Alphabet were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC increased its holdings in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.0 %

Shares of GOOGL opened at $162.96 on Friday. The stock has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average of $175.78 and a 200-day moving average of $162.35.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,365 shares of company stock worth $22,936,043. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Tuesday, August 6th. Oppenheimer increased their target price on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Roth Mkm boosted their price target on Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup increased their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.74.

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.