Amalgamated Bank decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,466,703 shares of the information services provider’s stock after selling 78,690 shares during the period. Alphabet makes up about 1.6% of Amalgamated Bank’s investment portfolio, making the stock its 5th largest position. Amalgamated Bank’s holdings in Alphabet were worth $204,884,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GOOGL. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter valued at $38,000. Meritage Group LP increased its position in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Macroview Investment Management LLC increased its position in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC increased its position in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. JMP Securities upped their price target on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, April 26th. Jefferies Financial Group increased their target price on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Roth Mkm increased their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.60.
Read Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 over the last 90 days. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Shares of Alphabet stock opened at $168.65 on Friday. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The stock’s 50-day moving average is $152.69 and its 200-day moving average is $143.20. Alphabet Inc. has a one year low of $114.41 and a one year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%.
About Alphabet
(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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