FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,876 shares of the information services provider’s stock after buying an additional 644 shares during the period. Alphabet accounts for approximately 2.5% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 9th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Alphabet were worth $10,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth approximately $15,441,917,000. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new position in shares of Alphabet in the third quarter worth approximately $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock worth $21,143,403 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Wedbush upped their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 target price (down previously from $182.00) on shares of Alphabet in a research note on Friday, June 28th. Finally, Mizuho upped their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.66.

Check Out Our Latest Stock Report on Alphabet

Alphabet Price Performance

GOOGL opened at $190.60 on Friday. The stock has a fifty day simple moving average of $175.43 and a two-hundred day simple moving average of $155.98. 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 company has a market cap of $2.36 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $190.86.

Alphabet (NASDAQ:GOOGLGet Free Report) 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 analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is presently 12.27%.

Alphabet Company Profile

(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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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