Alphabet Inc. $GOOGL Stock Holdings Reduced by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,233,313 shares of the information services provider’s stock after selling 47,990 shares during the period. Alphabet accounts for 1.7% of Amalgamated Bank’s investment portfolio, making the stock its 7th largest position. Amalgamated Bank’s holdings in Alphabet were worth $217,347,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter valued at about $39,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Jefferies Financial Group boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Oppenheimer upped their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Roth Capital lifted their price target on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Performance

Shares of GOOGL stock opened at $290.10 on Tuesday. The firm has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.86 and a beta of 1.05. The stock has a fifty day moving average of $252.77 and a 200 day moving average of $205.82. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is owned by corporate insiders.

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.