Amalgamated Bank Has $192.83 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Amalgamated Bank reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,051,298 shares of the information services provider’s stock after selling 20,879 shares during the quarter. Alphabet comprises about 1.6% of Amalgamated Bank’s portfolio, making the stock its 7th biggest position. Amalgamated Bank’s holdings in Alphabet were worth $192,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter worth $34,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the second quarter worth $37,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet in the second quarter valued at $44,000. Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet during the second quarter worth about $48,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock valued at $33,964,256 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOG opened at $160.81 on Thursday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market capitalization of $1.99 trillion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a fifty day moving average price of $167.19 and a two-hundred day moving average price of $166.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

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.