First American Trust FSB Buys 3,816 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First American Trust FSB boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,305 shares of the information services provider's stock after purchasing an additional 3,816 shares during the quarter. Alphabet comprises 1.8% of First American Trust FSB's portfolio, making the stock its 11th largest holding. First American Trust FSB's holdings in Alphabet were worth $19,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. SouthState Corp boosted its position in Alphabet by 14.6% during the first quarter. SouthState Corp now owns 75,755 shares of the information services provider's stock worth $11,715,000 after purchasing an additional 9,646 shares during the period. Cobblestone Capital Advisors LLC NY boosted its position in Alphabet by 1.8% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 74,020 shares of the information services provider's stock worth $11,446,000 after purchasing an additional 1,339 shares during the period. Lockheed Martin Investment Management Co. lifted its holdings in shares of Alphabet by 21.8% during the first quarter. Lockheed Martin Investment Management Co. now owns 231,680 shares of the information services provider's stock worth $35,827,000 after buying an additional 41,510 shares during the last quarter. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $4,317,606,000. Finally, Aigen Investment Management LP lifted its holdings in shares of Alphabet by 338.4% during the first quarter. Aigen Investment Management LP now owns 12,362 shares of the information services provider's stock worth $1,912,000 after buying an additional 9,542 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock worth $49,796,547 over the last 90 days. Insiders own 11.64% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $203.90 on Friday. The business's 50-day simple moving average is $184.25 and its 200 day simple moving average is $173.20. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Wedbush upped their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Rosenblatt Securities upped their price target on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. DA Davidson upped their price target on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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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