Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,661 shares of the information services provider’s stock after purchasing an additional 2,430 shares during the period. Alphabet makes up 3.0% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 4th biggest holding. Mechanics Bank Trust Department’s holdings in Alphabet were worth $20,173,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. M. Kraus & Co increased its position in Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after buying an additional 66 shares in the last quarter. Wynn Capital LLC increased its position in Alphabet by 3.9% during the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after buying an additional 67 shares in the last quarter. Aire Advisors LLC increased its position in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after buying an additional 68 shares in the last quarter. Defined Wealth Management LLC increased its position in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after buying an additional 71 shares in the last quarter. Finally, WealthCare Investment Partners LLC increased its position in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after buying an additional 71 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Trading Down 0.1 %

NASDAQ:GOOGL opened at $183.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a one year low of $115.35 and a one year high of $184.51. The business’s 50-day simple moving average is $171.13 and its 200 day simple moving average is $153.36. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Tuesday, June 11th. Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Argus lifted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.69.

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.