FineMark National Bank & Trust Purchases 2,409 Shares of Alphabet Inc. (NASDAQ:GOOGL)

FineMark National Bank & Trust raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,958 shares of the information services provider’s stock after acquiring an additional 2,409 shares during the quarter. Alphabet makes up 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 26th biggest holding. FineMark National Bank & Trust’s holdings in Alphabet were worth $21,122,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the period. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth about $15,441,917,000. Capital Research Global Investors raised its stake in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Alphabet by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after buying an additional 1,429,261 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $159.32 on Wednesday. The company has a market cap of $1.97 trillion, a P/E ratio of 24.44, a P/E/G ratio of 1.13 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’s 50 day moving average price is $166.25 and its 200-day moving average price is $165.17. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday. Piper Sandler cut their target price on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. Finally, Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on 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 directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, 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 sold a total of 180,167 shares of company stock worth $30,139,931 in the last quarter. 11.55% of the stock is owned by company insiders.

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.