FineMark National Bank & Trust Increases Stock Position in Alphabet Inc. $GOOGL

FineMark National Bank & Trust increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,350 shares of the information services provider’s stock after purchasing an additional 229 shares during the period. FineMark National Bank & Trust’s holdings in Alphabet were worth $19,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet during the 2nd quarter valued at about $31,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet in the 1st quarter worth $50,000. Finally, S&T Bank PA increased its stake in Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 225,072 shares of company stock valued at $58,074,027 in the last three months. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOGL shares. Morgan Stanley upped their price objective on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Citic Securities upped their price target on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Roth Capital raised their target price on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $320.02 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50-day moving average is $269.25 and its 200 day moving average is $219.56.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

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.