Alphabet Inc. (NASDAQ:GOOGL) is Field & Main Bank’s 10th Largest Position

Field & Main Bank raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 33,500 shares of the information services provider’s stock after buying an additional 295 shares during the quarter. Alphabet accounts for 2.0% of Field & Main Bank’s holdings, making the stock its 10th biggest position. Field & Main Bank’s holdings in Alphabet were worth $4,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its holdings in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after buying an additional 5,336,359 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Alphabet in the third quarter valued at $634,465,000. Ontario Teachers Pension Plan Board acquired a new position in Alphabet in the third quarter valued at $601,545,000. Finally, Lone Pine Capital LLC acquired a new stake in shares of Alphabet during the third quarter worth about $407,367,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.9 %

Alphabet stock opened at $171.25 on Wednesday. The stock has a market cap of $2.12 trillion, a PE ratio of 26.27, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $151.40 and a 200 day moving average price of $142.83. Alphabet Inc. has a 52 week low of $105.16 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 analysts’ expectations of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wolfe Research upped their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Roth Mkm lifted their target price on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. KeyCorp increased their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is owned by company insiders.

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.