M&T Bank Corp Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

M&T Bank Corp lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,115,331 shares of the information services provider's stock after selling 6,735 shares during the quarter. M&T Bank Corp's holdings in Alphabet were worth $184,977,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank raised its stake in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock valued at $275,000 after purchasing an additional 61 shares in the last quarter. Cutler Investment Counsel LLC lifted its position in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock valued at $607,000 after purchasing an additional 61 shares during the last quarter. MKT Advisors LLC grew its stake in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after buying an additional 62 shares in the last quarter. Finally, Mendota Financial Group LLC increased its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Scotiabank raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. China Renaissance raised shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an "overweight" rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $206.69.

Alphabet Stock Performance

Shares of GOOGL stock traded up $2.90 on Friday, hitting $191.41. The company had a trading volume of 62,697,719 shares, compared to its average volume of 27,725,518. 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 $130.66 and a twelve month high of $201.42. The company has a 50-day moving average price of $174.55 and a 200-day moving average price of $171.33. The firm has a market cap of $2.34 trillion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet's dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company's stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,957 shares of company stock worth $31,358,687 in the last 90 days. 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.