M&T Bank Corp Has $212.57 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

M&T Bank Corp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,122,899 shares of the information services provider’s stock after buying an additional 7,568 shares during the period. Alphabet accounts for about 0.7% of M&T Bank Corp’s portfolio, making the stock its 29th largest holding. M&T Bank Corp’s holdings in Alphabet were worth $212,565,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bennett Selby Investments LP lifted its holdings in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after buying an additional 52 shares during the period. Macroview Investment Management LLC raised its position in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after acquiring an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the last quarter. Finally, Addison Advisors LLC increased its position in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 2.2 %

Shares of GOOGL opened at $160.67 on Wednesday. Alphabet Inc. has a 1 year low of $146.08 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a 50 day simple moving average of $184.35 and a two-hundred day simple moving average of $176.56. The firm has a market cap of $1.96 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wedbush boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Bank of America restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Stifel Nicolaus boosted their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.03.

Alphabet Company 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.