Amalgamated Bank Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Amalgamated Bank increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,281,303 shares of the information services provider's stock after purchasing an additional 22,700 shares during the quarter. Alphabet makes up 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC raised its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC raised its stake in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. DA Davidson lowered their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Roth Capital restated a "buy" rating and issued a $205.00 target price (up from $180.00) on shares of Alphabet in a research note on Tuesday. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Finally, Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.13.

Alphabet Stock Up 1.3%

NASDAQ GOOGL traded up $2.26 on Wednesday, reaching $176.62. The company had a trading volume of 42,989,506 shares, compared to its average volume of 31,791,107. The company's fifty day moving average is $169.67 and its 200-day moving average is $173.69. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.23 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the company posted $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 11.64% of the company's stock.

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.