First American Trust FSB Raises Stake in Alphabet Inc. $GOOGL

Key Points

• First American Trust FSB increased its stake in Alphabet Inc. by 3.1%, acquiring an additional 3,816 shares, bringing its total to 125,305 shares valued at approximately $19.38 million.
• In the first quarter, several large investors, including SouthState Corp and Lockheed Martin Investment Management Co., also boosted their positions in Alphabet, highlighting ongoing institutional interest in the stock.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which represents an annual yield of 0.4%, with a payout ratio of 8.95%.

First American Trust FSB lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 125,305 shares of the information services provider's stock after acquiring an additional 3,816 shares during the quarter. Alphabet accounts for 1.8% of First American Trust FSB's investment portfolio, making the stock its 11th largest position. First American Trust FSB's holdings in Alphabet were worth $19,377,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.1%

Shares of NASDAQ:GOOGL traded down $2.25 during trading hours on Wednesday, reaching $199.32. The stock had a trading volume of 28,901,311 shares, compared to its average volume of 35,460,480. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm's 50 day moving average is $185.70 and its 200-day moving average is $173.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. UBS Group increased their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. BMO Capital Markets increased their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Rosenblatt Securities increased their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,319 shares of company stock valued at $44,243,272 in the last ninety days. Insiders own 11.64% of the company's stock.

Alphabet 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.