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Community Bank N.A. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,173 shares of the information services provider’s stock after buying an additional 2,790 shares during the quarter. Alphabet makes up about 1.1% of Community Bank N.A.’s holdings, making the stock its 21st largest position. Community Bank N.A.’s holdings in Alphabet were worth $8,741,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in GOOGL. Napatree Capital LLC grew its stake in shares of Alphabet by 5.8% during the 4th quarter. Napatree Capital LLC now owns 12,959 shares of the information services provider’s stock worth $2,453,000 after acquiring an additional 716 shares during the period. Meridian Wealth Advisors LLC lifted its holdings in Alphabet by 8.4% during the fourth quarter. Meridian Wealth Advisors LLC now owns 58,713 shares of the information services provider’s stock valued at $11,114,000 after purchasing an additional 4,542 shares during the last quarter. Meridian Wealth Partners LLC boosted its position in Alphabet by 4.3% during the fourth quarter. Meridian Wealth Partners LLC now owns 8,441 shares of the information services provider’s stock worth $1,598,000 after purchasing an additional 347 shares during the period. Samalin Investment Counsel LLC increased its stake in shares of Alphabet by 6.2% in the fourth quarter. Samalin Investment Counsel LLC now owns 5,719 shares of the information services provider’s stock worth $1,083,000 after purchasing an additional 332 shares in the last quarter. Finally, Heron Bay Capital Management raised its position in shares of Alphabet by 1.5% in the fourth quarter. Heron Bay Capital Management now owns 108,674 shares of the information services provider’s stock valued at $20,572,000 after purchasing an additional 1,603 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on GOOGL shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.49.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Down 0.0 %
Shares of NASDAQ GOOGL opened at $157.04 on Thursday. The firm’s fifty day moving average is $177.19 and its 200 day moving average is $176.95. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,297 shares of company stock worth $15,936,270. 11.55% of the stock is currently owned by company insiders.
About Alphabet
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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