First National Bank & Trust Co. of Newtown Has $3.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

First National Bank & Trust Co. of Newtown cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,893 shares of the information services provider’s stock after selling 1,950 shares during the quarter. Alphabet accounts for about 0.6% of First National Bank & Trust Co. of Newtown’s portfolio, making the stock its 26th biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Alphabet were worth $3,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. LMR Partners LLP bought a new position in Alphabet during the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Denver PWM LLC raised its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,316 shares of company stock worth $25,062,887. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Cantor Fitzgerald decreased their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Performance

Shares of GOOGL opened at $170.92 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The business’s fifty day moving average price is $189.52 and its 200 day moving average price is $176.41. The stock has a market capitalization of $2.08 trillion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 9.94%.

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.