Citizens Business Bank Purchases 540 Shares of Alphabet Inc. $GOOGL

Citizens Business Bank raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,995 shares of the information services provider’s stock after acquiring an additional 540 shares during the quarter. Alphabet makes up approximately 1.1% of Citizens Business Bank’s holdings, making the stock its 29th largest position. Citizens Business Bank’s holdings in Alphabet were worth $5,638,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new position in Alphabet in the 1st quarter worth approximately $4,317,606,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Amundi raised its holdings in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. The Goldman Sachs Group reiterated a “buy” rating and set a $288.00 target price on shares of Alphabet in a research note on Tuesday, October 14th. Piper Sandler boosted their target price on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Tigress Financial boosted their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $264.34.

Alphabet Trading Down 0.7%

Shares of Alphabet stock opened at $267.47 on Wednesday. The company has a market capitalization of $3.23 trillion, a P/E ratio of 28.48, a P/E/G ratio of 1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $239.35 and a 200 day moving average of $197.43. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $270.73.

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.