Alphabet Inc. (NASDAQ:GOOG) is CNB Bank’s 5th Largest Position

CNB Bank lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,315 shares of the information services provider’s stock after selling 1,041 shares during the period. Alphabet accounts for 2.4% of CNB Bank’s investment portfolio, making the stock its 5th largest holding. CNB Bank’s holdings in Alphabet were worth $5,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Weiss Asset Management LP purchased a new position in shares of Alphabet in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter worth about $33,000. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $197.55 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company has a 50 day moving average price of $185.92 and a 200 day moving average price of $174.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.