AMG National Trust Bank Acquires 3,865 Shares of Alphabet Inc. (NASDAQ:GOOG)

AMG National Trust Bank grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,790 shares of the information services provider's stock after purchasing an additional 3,865 shares during the period. AMG National Trust Bank's holdings in Alphabet were worth $11,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LSV Asset Management purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $27,000. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $26,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the 4th quarter worth $39,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock valued at $37,288,490 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Oppenheimer restated an "outperform" rating and issued a $220.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $208.40.

Alphabet Stock Up 0.7%

NASDAQ GOOG traded up $1.24 on Friday, reaching $185.94. 20,915,424 shares of the stock traded hands, compared to its average volume of 21,587,144. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.29 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. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a fifty day moving average price of $174.02 and a 200-day moving average price of $174.72.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 analyst estimates of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. Alphabet's payout ratio is 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.