AMG National Trust Bank Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

AMG National Trust Bank raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,802 shares of the information services provider’s stock after buying an additional 6,892 shares during the period. AMG National Trust Bank’s holdings in Alphabet were worth $12,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $38,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC lifted its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,883 shares of company stock worth $26,705,320. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Evercore ISI lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Trading Up 1.0 %

Shares of Alphabet stock opened at $163.38 on Tuesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $173.13 and its 200-day simple moving average is $164.05. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business posted $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

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.