FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,816 shares of the information services provider's stock after selling 3,115 shares during the quarter. Alphabet makes up 2.8% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's investment portfolio, making the stock its 7th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Alphabet were worth $11,323,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lantz Financial LLC lifted its holdings 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 valued at $842,000 after buying an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $218,000. Triasima Portfolio Management inc. lifted its holdings in shares of Alphabet by 30.8% during the 2nd quarter. Triasima Portfolio Management inc. now owns 36,108 shares of the information services provider's stock valued at $6,577,000 after buying an additional 8,511 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in shares of Alphabet by 7.2% during the 2nd quarter. Wilkinson Global Asset Management LLC now owns 5,197 shares of the information services provider's stock valued at $947,000 after buying an additional 350 shares during the last quarter. Finally, Waddell & Associates LLC lifted its holdings in shares of Alphabet by 2.2% during the 2nd quarter. Waddell & Associates LLC now owns 6,497 shares of the information services provider's stock valued at $1,183,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on GOOGL. KeyCorp boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a report on Friday, January 10th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Friday, January 10th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Morgan Stanley upped their target price on Alphabet from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Finally, Bank of America reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Nine 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 stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $208.15.
Read Our Latest Analysis on GOOGL
Alphabet Price Performance
Shares of GOOGL stock traded up $2.05 during trading hours on Tuesday, hitting $198.05. 29,346,687 shares of the company's stock were exchanged, compared to its average volume of 23,514,902. The stock's 50-day moving average is $184.74 and its 200-day moving average is $173.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is 10.61%.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % 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 over the last 90 days. Insiders own 11.55% of the company's stock.
Alphabet Company Profile
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Free Report)
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.
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