Citizens Business Bank Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Citizens Business Bank boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,528 shares of the information services provider’s stock after acquiring an additional 1,828 shares during the quarter. Citizens Business Bank’s holdings in Alphabet were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Solidarity Wealth LLC lifted its position in shares of Alphabet by 1.8% during the 3rd quarter. Solidarity Wealth LLC now owns 8,294 shares of the information services provider’s stock valued at $1,094,000 after acquiring an additional 145 shares during the period. Country Club Bank GFN raised its position in Alphabet by 2.1% during the third quarter. Country Club Bank GFN now owns 158,267 shares of the information services provider’s stock worth $21,070,000 after acquiring an additional 3,328 shares during the last quarter. Lakeside Advisors INC. increased its stake in shares of Alphabet by 16.9% during the 3rd quarter. Lakeside Advisors INC. now owns 2,313 shares of the information services provider’s stock worth $305,000 after purchasing an additional 334 shares in the last quarter. InTrack Investment Management Inc grew its holdings in Alphabet by 5.4% during the 3rd quarter. InTrack Investment Management Inc now owns 7,100 shares of the information services provider’s stock valued at $936,000 after buying an additional 363 shares during the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID increased its position in Alphabet by 16.7% during the 3rd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 2,311 shares of the information services provider’s stock worth $305,000 after purchasing an additional 331 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $165.57 on Thursday. Alphabet Inc. has a 52 week low of $104.50 and a 52 week high of $176.42. The company has a market cap of $2.06 trillion, a PE ratio of 25.39, a P/E/G ratio of 1.23 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $150.52 and its 200-day simple moving average is $143.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOG shares. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $165.67.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. In the last three months, insiders sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.