Alphabet Inc. (NASDAQ:GOOG) Stock Position Lessened by CNB Bank

CNB Bank decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,806 shares of the information services provider's stock after selling 4,509 shares during the period. Alphabet accounts for 1.8% of CNB Bank's holdings, making the stock its 9th biggest position. CNB Bank's holdings in Alphabet were worth $3,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares in the last quarter. Hutchinson Capital Management CA boosted its stake in shares of Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC grew its position in shares of Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock valued at $1,227,000 after acquiring an additional 56 shares during the period. Retirement Planning Co of New England Inc. increased its stake in shares of Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after purchasing an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management raised its holdings in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's 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 directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,195 shares of company stock worth $35,764,898. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $174.43 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a market cap of $2.12 trillion, a PE ratio of 19.45, a P/E/G ratio of 1.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $167.33 and a 200 day moving average price of $176.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOG shares. Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. KeyCorp dropped their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $204.88.

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.

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