Commerce Bank Has $106.01 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Commerce Bank cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 634,040 shares of the information services provider’s stock after selling 1,190 shares during the quarter. Commerce Bank’s holdings in Alphabet were worth $106,005,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP acquired a new stake in Alphabet during the second quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth approximately $44,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.6 %

GOOG opened at $179.58 on Wednesday. The stock has a market cap of $2.20 trillion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a fifty day moving average of $168.15 and a 200-day moving average of $171.87.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,295 shares of company stock worth $30,698,791. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.