Citizens Business Bank Has $10.75 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Citizens Business Bank reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,765 shares of the information services provider's stock after selling 1,748 shares during the period. Alphabet comprises about 2.0% of Citizens Business Bank's investment portfolio, making the stock its 9th biggest position. Citizens Business Bank's holdings in Alphabet were worth $10,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. raised its stake in shares of Alphabet by 32.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,164,638 shares of the information services provider's stock worth $220,466,000 after acquiring an additional 288,369 shares during the last quarter. Coastal Bridge Advisors LLC raised its position in Alphabet by 2.5% in the 4th quarter. Coastal Bridge Advisors LLC now owns 16,955 shares of the information services provider's stock worth $3,210,000 after purchasing an additional 416 shares during the last quarter. Dunhill Financial LLC lifted its holdings in Alphabet by 22.7% during the 4th quarter. Dunhill Financial LLC now owns 7,587 shares of the information services provider's stock worth $1,436,000 after buying an additional 1,402 shares in the last quarter. Duquesne Family Office LLC bought a new position in Alphabet in the 4th quarter valued at $14,516,000. Finally, Eagle Global Advisors LLC increased its stake in shares of Alphabet by 0.4% in the 4th quarter. Eagle Global Advisors LLC now owns 182,790 shares of the information services provider's stock valued at $34,602,000 after buying an additional 735 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares in the company, valued at $1,232,544.70. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock worth $30,153,353. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOGL shares. Morgan Stanley decreased their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Tuesday. Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Trading Down 1.0 %

Shares of Alphabet stock traded down $1.53 on Friday, hitting $152.75. The stock had a trading volume of 32,365,483 shares, compared to its average volume of 28,782,802. The stock has a 50 day moving average of $158.93 and a 200 day moving average of $175.10. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.55%. Alphabet's payout ratio is presently 9.36%.

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.