Alphabet Inc. (NASDAQ:GOOGL) is Comerica Bank's 9th Largest Position

Comerica Bank trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,446,256 shares of the information services provider's stock after selling 36,857 shares during the period. Alphabet makes up about 1.1% of Comerica Bank's investment portfolio, making the stock its 9th biggest position. Comerica Bank's holdings in Alphabet were worth $273,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $2.73 during midday trading on Friday, reaching $164.03. 25,689,744 shares of the company were exchanged, compared to its average volume of 28,219,284. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average price is $160.42 and its 200-day moving average price is $175.35. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,164 shares of company stock worth $25,357,390 in the last ninety days. Corporate insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Rosenblatt Securities dropped their price objective on Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.46.

Alphabet Profile

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.