Thomasville National Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 303,573 shares of the information services provider's stock after acquiring an additional 2,501 shares during the period. Alphabet accounts for 3.5% of Thomasville National Bank's portfolio, making the stock its 6th biggest holding. Thomasville National Bank's holdings in Alphabet were worth $47,427,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of GOOG. May Barnhard Investments LLC raised its stake in shares of Alphabet by 5.5% during the first quarter. May Barnhard Investments LLC now owns 5,188 shares of the information services provider's stock valued at $811,000 after purchasing an additional 269 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Alphabet by 6.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,653,344 shares of the information services provider's stock worth $414,532,000 after buying an additional 157,481 shares in the last quarter. Sterling Financial Group Inc. raised its position in shares of Alphabet by 5.2% during the 1st quarter. Sterling Financial Group Inc. now owns 2,447 shares of the information services provider's stock worth $382,000 after buying an additional 120 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Alphabet by 2.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 81,458 shares of the information services provider's stock worth $12,726,000 after acquiring an additional 2,055 shares during the period. Finally, Defined Financial Planning LLC boosted its holdings in shares of Alphabet by 12.7% in the first quarter. Defined Financial Planning LLC now owns 2,143 shares of the information services provider's stock valued at $340,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on GOOG. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Scotiabank decreased their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $204.88.
View Our Latest Analysis on GOOG
Alphabet Stock Down 0.6%
NASDAQ:GOOG traded down $1.09 during mid-day trading on Friday, reaching $175.88. The stock had a trading volume of 20,848,122 shares, compared to its average volume of 20,479,029. The stock has a market cap of $2.13 trillion, a P/E ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01. The business's 50 day moving average is $163.98 and its 200 day moving average is $176.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. Alphabet's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, 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. In the last quarter, insiders have sold 195,570 shares of company stock valued at $32,003,532. Insiders own 12.99% of the company's stock.
Alphabet Profile
(
Free Report)
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.
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