FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 1,552 Shares of Alphabet Inc. $GOOGL

Key Points

• FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its Alphabet stake by 2.6% in the fourth quarter, selling 1,552 shares and leaving it with 58,668 shares worth about $18.36 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion, while also announcing a small dividend increase to $0.22 per share.
• Analysts remain broadly positive on the stock, with multiple firms raising price targets and MarketBeat showing a Moderate Buy consensus and an average target price of $410.84.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,668 shares of the information services provider's stock after selling 1,552 shares during the quarter. Alphabet accounts for 4.2% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's investment portfolio, making the stock its 5th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Alphabet were worth $18,363,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new stake in Alphabet in the 3rd quarter valued at $416,217,000. Sovran Advisors LLC raised its position in Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after buying an additional 4,241 shares during the last quarter. Wright Investors Service Inc. raised its position in Alphabet by 21.2% in the 3rd quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock valued at $12,171,000 after buying an additional 8,746 shares during the last quarter. CIBC Asset Management Inc raised its position in Alphabet by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after buying an additional 60,831 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its position in Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock valued at $17,652,000 after buying an additional 3,740 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $396.78 on Friday. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 30.27, a PEG ratio of 1.72 and a beta of 1.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $329.30 and its 200 day moving average is $317.27. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $403.70.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.41%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Rothschild & Co Redburn increased their price target on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada set a $425.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Thursday, April 30th. Moffett Nathanson increased their price target on Alphabet from $305.00 to $350.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Daiwa Securities Group increased their price target on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $410.84.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total transaction of $348,232.50. Following the completion of the transaction, the director owned 3,581 shares of the company's stock, valued at $1,187,638.65. The trade was a 22.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,953 shares of company stock worth $47,767,818 in the last ninety days. Insiders own 11.61% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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