Citizens Business Bank Has $9.20 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Citizens Business Bank cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,985 shares of the information services provider’s stock after selling 1,444 shares during the quarter. Alphabet makes up about 2.0% of Citizens Business Bank’s investment portfolio, making the stock its 9th biggest position. Citizens Business Bank’s holdings in Alphabet were worth $9,204,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. Fisher Asset Management LLC increased its holdings in shares of Alphabet by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after buying an additional 874,919 shares in the last quarter. Finally, Capital International Investors boosted its stake in Alphabet by 2.3% during the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after buying an additional 686,514 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last three months, insiders sold 123,788 shares of company stock valued at $21,143,403. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $185.82 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.09. The company has a 50-day moving average of $173.92 and a 200 day moving average of $155.17. The firm has a market cap of $2.30 trillion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Tigress Financial lifted their price objective on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, UBS Group lifted their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

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.