Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Amalgamated Bank

Amalgamated Bank cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,235,668 shares of the information services provider’s stock after selling 82,204 shares during the period. Alphabet makes up about 1.4% of Amalgamated Bank’s holdings, making the stock its 7th largest holding. Amalgamated Bank’s holdings in Alphabet were worth $174,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Cranbrook Wealth Management LLC grew its position in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares during the period. Manchester Financial Inc. lifted its position in shares of Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after buying an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after acquiring an additional 75 shares in the last quarter. Congress Park Capital LLC lifted its holdings in Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC lifted its holdings in Alphabet by 0.6% during the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded up $0.53 during midday trading on Friday, reaching $168.99. 22,767,056 shares of the stock traded hands, compared to its average volume of 22,353,938. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $104.70 and a 12 month high of $176.42. The stock’s fifty day moving average is $150.99 and its 200-day moving average is $143.49. The stock has a market cap of $2.10 trillion, a P/E ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $165.67.

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.