Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Amalgamated Bank

Amalgamated Bank grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,281,303 shares of the information services provider's stock after acquiring an additional 22,700 shares during the period. Alphabet comprises about 1.7% of Amalgamated Bank's portfolio, making the stock its 7th largest holding. Amalgamated Bank's holdings in Alphabet were worth $198,141,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Wealth Group Ltd. raised its holdings in shares of Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after acquiring an additional 78 shares in the last quarter. Eagle Capital Management LLC raised its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Alphabet during the fourth quarter worth $154,716,000. Finally, Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. Insiders own 11.55% of the company's stock.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Morgan Stanley lowered their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $200.00.

Alphabet Stock Down 1.2%

NASDAQ GOOGL traded down $2.18 on Tuesday, reaching $174.61. The company had a trading volume of 20,005,517 shares, compared to its average volume of 31,557,921. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company's fifty day moving average is $169.03 and its 200-day moving average is $173.67.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the business earned $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

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.