Farmers National Bank Purchases 5,151 Shares of Alphabet Inc. $GOOG

Key Points

• Farmers National Bank increased its Alphabet stake by 11.4% in the fourth quarter, buying 5,151 more shares and bringing its total to 50,180 shares valued at about $15.7 million.
• Alphabet posted better-than-expected earnings for the quarter, with EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% from a year earlier.
• Analyst sentiment remains constructive, with several firms raising price targets and the stock carrying an overall “Buy” rating and average target price of $376.78.

Farmers National Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,180 shares of the information services provider's stock after purchasing an additional 5,151 shares during the period. Alphabet comprises 3.5% of Farmers National Bank's investment portfolio, making the stock its 6th largest holding. Farmers National Bank's holdings in Alphabet were worth $15,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Imprint Wealth LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the fourth quarter valued at $38,000. Bard Associates Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A lifted its holdings in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG opened at $367.46 on Monday. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $364.31 and a 200-day moving average of $331.18. The stock has a market cap of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter last year, the firm earned $2.81 earnings per share. Alphabet's quarterly revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. TD Cowen upped their price target on Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a "buy" rating in a research note on Friday, March 13th. Finally, Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $376.78.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,516 shares of company stock valued at $7,344,604 over the last ninety days. Insiders own 12.99% of the company's stock.

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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