CNB Bank Has $4.54 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

CNB Bank grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,813 shares of the information services provider’s stock after acquiring an additional 94 shares during the period. Alphabet accounts for approximately 2.2% of CNB Bank’s investment portfolio, making the stock its 5th biggest holding. CNB Bank’s holdings in Alphabet were worth $4,539,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital International Investors raised its holdings in shares of Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the period. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Sanders Capital LLC raised its holdings in Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after buying an additional 813,428 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Alphabet by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock valued at $1,781,200,000 after buying an additional 97,603 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,288 shares of company stock valued at $25,345,053. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Get Our Latest Research Report on Alphabet

Alphabet Stock Down 1.0 %

GOOG stock opened at $190.12 on Monday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $192.26. The stock has a market cap of $2.35 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.44 and a beta of 1.05. The stock’s fifty day simple moving average is $176.95 and its two-hundred day simple moving average is $157.64. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet 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 $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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