First National Advisers LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• First National Advisers LLC increased its stake in Alphabet Inc. by 6.2%, now holding 30,337 shares valued at approximately $4.69 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with a yield of 0.4%, payable on September 15th to shareholders of record as of September 8th.
• Analysts have mostly given Alphabet a positive outlook, with a consensus rating of "Moderate Buy" and a price target of $211.39.

First National Advisers LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,337 shares of the information services provider's stock after purchasing an additional 1,779 shares during the quarter. Alphabet comprises 0.8% of First National Advisers LLC's portfolio, making the stock its 28th biggest holding. First National Advisers LLC's holdings in Alphabet were worth $4,692,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of GOOGL. Mystic Asset Management Inc. lifted its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC boosted its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the period. Finally, Optivise Advisory Services LLC grew its holdings in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 1.4%

GOOGL opened at $189.13 on Monday. The company has a fifty day moving average of $178.32 and a two-hundred day moving average of $172.82. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Guggenheim boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Barclays lifted their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Roth Capital increased their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Ten 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred 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 owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,399 shares of company stock valued at $43,525,794. 11.55% of the stock is owned by company insiders.

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.

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