Citizens & Northern Corp Sells 3,051 Shares of Alphabet Inc. (NASDAQ:GOOG)

Citizens & Northern Corp lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,435 shares of the information services provider's stock after selling 3,051 shares during the period. Alphabet accounts for about 1.9% of Citizens & Northern Corp's holdings, making the stock its 12th biggest position. Citizens & Northern Corp's holdings in Alphabet were worth $6,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LSV Asset Management bought a new position in Alphabet in the fourth quarter worth approximately $27,000. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 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 value of $105,000.00. Following the completion of the transaction, the director now directly owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.73 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day simple moving average of $166.31 and a two-hundred day simple moving average of $176.39. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market capitalization of $2.04 trillion, a P/E ratio of 18.70, a P/E/G ratio of 1.23 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current 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 given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Scotiabank dropped their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

Alphabet Company 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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