Alphabet Inc. (NASDAQ:GOOGL) Stock Position Boosted by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,274,850 shares of the information services provider’s stock after purchasing an additional 13,050 shares during the period. Alphabet accounts for about 1.7% of Amalgamated Bank’s holdings, making the stock its 6th biggest holding. Amalgamated Bank’s holdings in Alphabet were worth $211,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOGL. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank grew its position in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its stake in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Monday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $165.61 and its 200 day moving average price is $170.22.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Morgan Stanley boosted their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. KeyCorp increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.