First American Bank Has $53.03 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

First American Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,138 shares of the information services provider’s stock after selling 3,472 shares during the period. Alphabet accounts for 3.7% of First American Bank’s portfolio, making the stock its 4th largest holding. First American Bank’s holdings in Alphabet were worth $53,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Pettinga Financial Advisors LLC raised its position in shares of Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after acquiring an additional 201 shares during the last quarter. LCM Capital Management Inc raised its position in shares of Alphabet by 2.1% during the 3rd quarter. LCM Capital Management Inc now owns 20,940 shares of the information services provider’s stock valued at $3,473,000 after acquiring an additional 434 shares during the last quarter. Pacific Wealth Strategies Group Inc. raised its position in shares of Alphabet by 23.1% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 26,930 shares of the information services provider’s stock valued at $4,466,000 after acquiring an additional 5,045 shares during the last quarter. Lincluden Management Ltd. raised its position in shares of Alphabet by 0.9% during the 3rd quarter. Lincluden Management Ltd. now owns 50,204 shares of the information services provider’s stock valued at $8,326,000 after acquiring an additional 469 shares during the last quarter. Finally, Norris Perne & French LLP MI raised its position in shares of Alphabet by 1.0% during the 3rd quarter. Norris Perne & French LLP MI now owns 418,256 shares of the information services provider’s stock valued at $69,368,000 after acquiring an additional 4,255 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,882 shares of company stock valued at $17,934,130 in the last three months. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Finally, Citigroup decreased their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 2.6 %

Shares of GOOGL stock opened at $162.76 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50-day moving average is $186.22 and its 200-day moving average is $176.39. The stock has a market cap of $1.98 trillion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52-week low of $140.03 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict 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 issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. 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.