City National Bank of Florida MSD Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

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 13F filing with the Securities & Exchange Commission. The firm bought 5,060 shares of the information services provider's stock, valued at approximately $958,000. Alphabet makes up about 0.9% of City National Bank of Florida MSD's portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Compass Planning Associates Inc bought a new stake in shares of Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter valued at about $39,000. PayPay Securities Corp raised its stake in Alphabet by 36.1% during 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 in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,654 shares of company stock worth $26,793,380. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

GOOGL stock traded down $2.40 during trading hours on Monday, hitting $168.47. 35,166,008 shares of the stock traded hands, compared to its average volume of 29,747,753. The stock has a 50-day simple moving average of $158.57 and a 200 day simple moving average of $174.83. The company has a market cap of $2.04 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOOGL shares. Oppenheimer lifted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. KeyCorp increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.75.

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.