Alphabet Inc. (NASDAQ:GOOGL) is Amalgamated Bank's 7th Largest Position

Amalgamated Bank lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,281,303 shares of the information services provider's stock after acquiring an additional 22,700 shares during the quarter. Alphabet makes up approximately 1.7% of Amalgamated Bank's portfolio, making the stock its 7th largest position. Amalgamated Bank's holdings in Alphabet were worth $198,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter valued at about $49,000. Navigoe LLC purchased a new stake in Alphabet during the fourth quarter valued at about $51,000. Prudent Man Investment Management Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $53,000. Campbell Capital Management Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $57,000. Finally, Marshall Investment Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $59,000. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL traded up $0.44 during trading hours on Friday, hitting $179.08. The company had a trading volume of 21,689,729 shares, compared to its average volume of 31,590,492. The company has a market capitalization of $2.17 trillion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The stock has a 50-day moving average price of $168.70 and a 200 day moving average price of $173.87. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - 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 the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. UBS Group set a $195.00 price target on shares of Alphabet in a report on Friday, April 25th. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company increased their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Morgan Stanley lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $199.95.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by company insiders.

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.