Farmers National Bank Buys 3,567 Shares of Alphabet Inc. $GOOGL

Key Points

• Farmers National Bank increased its Alphabet stake by 34.8% in the fourth quarter, buying 3,567 additional shares and bringing its total holding to 13,809 shares worth about $4.32 million.
• Wall Street analysts remain broadly bullish on GOOGL, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy and a target price of $413.13.
• Alphabet recently reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend to $0.22 per share from $0.21.

Farmers National Bank raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,809 shares of the information services provider's stock after purchasing an additional 3,567 shares during the quarter. Alphabet accounts for about 1.0% of Farmers National Bank's portfolio, making the stock its 29th biggest position. Farmers National Bank's holdings in Alphabet were worth $4,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the fourth quarter valued at about $32,000. EMC Capital Management purchased a new stake in Alphabet in the 4th quarter valued at about $33,000. PMV Capital Advisers LLC purchased a new stake in Alphabet in the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Finally, Bard Associates Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $52,000. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the stock a "buy" rating in a report on Thursday, April 30th. Rothschild & Co Redburn boosted their price objective on Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. BMO Capital Markets upped their price objective on Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group raised their target price on Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.

Alphabet Trading Down 5.0%

NASDAQ:GOOGL opened at $349.68 on Tuesday. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. 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 $367.66 and its 200 day moving average is $332.31. The stock has a market capitalization of $4.24 trillion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Sell-side analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best "Magnificent Seven" AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google's Self-Driving Dream Hitting a Wall?

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director owned 18,721 shares of the company's stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last three months. Corporate insiders own 11.61% of the company's stock.

Alphabet 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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