Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Cut by Citizens Business Bank

Citizens Business Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 62,429 shares of the information services provider’s stock after selling 2,086 shares during the period. Alphabet comprises about 2.0% of Citizens Business Bank’s investment portfolio, making the stock its 10th biggest position. Citizens Business Bank’s holdings in Alphabet were worth $8,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Meritage Group LP lifted its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC lifted its holdings 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 in the last quarter. Armor Investment Advisors LLC lifted its holdings 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 in the last quarter. IAG Wealth Partners LLC lifted its holdings in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet in the 4th quarter worth approximately $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Mizuho boosted their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Loop Capital boosted their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, JMP Securities lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $169.38 on Thursday. Alphabet Inc. has a 52-week low of $107.19 and a 52-week high of $174.71. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.28 and a beta of 1.02. The stock has a 50 day moving average price of $151.40 and a 200 day moving average price of $142.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares in the company, valued at $1,072,665.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is currently owned by corporate insiders.

About Alphabet

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.