5,060 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by City National Bank of Florida MSD

City National Bank of Florida MSD bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,060 shares of the information services provider's stock, valued at approximately $958,000. Alphabet comprises 0.9% of City National Bank of Florida MSD's investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Rockbridge Capital Management LLC bought a new position in Alphabet during the fourth quarter valued at approximately $3,119,000. Optivise Advisory Services LLC boosted its stake in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. raised its position in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd raised its position in Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after purchasing an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC lifted its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Sanford C. Bernstein increased their price objective on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. KeyCorp raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, DA Davidson lowered their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Ten investment 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 company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Up 2.8%

Alphabet stock opened at $168.56 on Thursday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a fifty day simple moving average of $158.29 and a two-hundred day simple moving average of $174.88. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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 business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the firm earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given 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 dividend on an annualized basis and a yield of 0.50%. Alphabet's dividend payout ratio is 9.36%.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,744 shares of company stock valued at $20,968,366. Company insiders own 11.64% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.