First National Bank & Trust Co. of Newtown Has $2.96 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

First National Bank & Trust Co. of Newtown lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,843 shares of the information services provider’s stock after purchasing an additional 640 shares during the period. Alphabet accounts for about 0.6% of First National Bank & Trust Co. of Newtown’s investment portfolio, making the stock its 29th biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Alphabet were worth $2,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at about $41,000. Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet in the second quarter valued at about $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. KeyCorp upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Price Performance

NASDAQ:GOOGL opened at $167.83 on Friday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.27 and a beta of 1.03. The firm’s 50-day simple moving average is $167.50 and its 200 day simple moving average is $170.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last ninety days. Company insiders own 11.55% of the company’s stock.

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.