Alphabet Inc. (NASDAQ:GOOGL) is First American Bank’s 7th Largest Position

First American Bank boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,584 shares of the information services provider’s stock after buying an additional 1,446 shares during the quarter. Alphabet accounts for about 3.2% of First American Bank’s holdings, making the stock its 7th biggest holding. First American Bank’s holdings in Alphabet were worth $43,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $166.77 on Wednesday. The firm’s fifty day simple moving average is $165.10 and its 200-day simple moving average is $174.61. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.05 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. KeyCorp raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Truist Financial decreased their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.83.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,070 shares of company stock valued at $37,745,632 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Company 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.