Farmers National Bank Has $1.64 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Farmers National Bank raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 91.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,927 shares of the information services provider’s stock after purchasing an additional 4,274 shares during the quarter. Farmers National Bank’s holdings in Alphabet were worth $1,637,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in Alphabet during the fourth quarter valued at $34,000. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the second quarter worth approximately $37,000. HWG Holdings LP purchased a new position in Alphabet during the second quarter valued at approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.7 %

GOOG opened at $168.42 on Wednesday. The firm has a market cap of $2.08 trillion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business has a 50 day moving average price of $163.71 and a 200 day moving average price of $168.51. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,725 shares of company stock valued at $31,933,031. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer lowered their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Pivotal Research started coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price target for the company. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.75.

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.