Commerce Bank Sells 11,118 Shares of Alphabet Inc. (NASDAQ:GOOG)

Commerce Bank trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 622,922 shares of the information services provider's stock after selling 11,118 shares during the quarter. Alphabet accounts for 0.7% of Commerce Bank's investment portfolio, making the stock its 27th largest holding. Commerce Bank's holdings in Alphabet were worth $118,629,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in Alphabet during the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter valued at $43,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOG traded down $2.14 during midday trading on Friday, hitting $153.36. The stock had a trading volume of 19,461,666 shares, compared to its average volume of 19,427,163. The company has a market cap of $1.87 trillion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $167.16 and its 200-day moving average is $177.55. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

Several research analysts have commented on GOOG shares. Westpark Capital initiated coverage on shares of Alphabet in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Cantor Fitzgerald reiterated a "neutral" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wedbush restated an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.88.

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.