Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by CNB Bank

CNB Bank raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 21,095 shares of the information services provider's stock after buying an additional 2,496 shares during the period. Alphabet comprises approximately 1.9% of CNB Bank's holdings, making the stock its 8th largest holding. CNB Bank's holdings in Alphabet were worth $3,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC grew its position in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider's stock worth $842,000 after buying an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC acquired a new position in Alphabet during the second quarter valued at approximately $218,000. Stonebrook Private Inc. grew its holdings in Alphabet by 11.4% during the second quarter. Stonebrook Private Inc. now owns 16,616 shares of the information services provider's stock valued at $3,027,000 after purchasing an additional 1,695 shares during the period. Parcion Private Wealth LLC increased its stake in Alphabet by 10.5% in the second quarter. Parcion Private Wealth LLC now owns 22,845 shares of the information services provider's stock valued at $4,161,000 after purchasing an additional 2,171 shares in the last quarter. Finally, Umpqua Bank raised its holdings in Alphabet by 2.7% in the second quarter. Umpqua Bank now owns 44,719 shares of the information services provider's stock worth $8,146,000 after purchasing an additional 1,157 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Tigress Financial increased their price target on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 26th. Scotiabank upgraded Alphabet to a "strong-buy" rating in a report on Friday, October 11th. Piper Sandler reissued an "overweight" rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.15.

Alphabet Stock Performance

Shares of Alphabet stock traded up $3.09 during trading on Monday, reaching $196.00. The company's stock had a trading volume of 27,621,897 shares, compared to its average volume of 23,105,888. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business's 50-day moving average price is $184.43 and its 200-day moving average price is $173.25. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The firm has a market cap of $2.40 trillion, a PE ratio of 25.99, a P/E/G ratio of 1.22 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 in the last 90 days. Company insiders own 11.55% of the company's stock.

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.