FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.20 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,988 shares of the information services provider’s stock after selling 2,599 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Alphabet were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Park Avenue Securities LLC grew its holdings in Alphabet by 11.9% during the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC boosted its holdings in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the period. Oak Ridge Investments LLC grew its stake in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Alphabet by 0.7% in the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after acquiring an additional 426 shares during the period. Finally, AMG National Trust Bank lifted its position in Alphabet by 1.0% during the 4th quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock worth $9,450,000 after acquiring an additional 671 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.2 %

GOOG opened at $155.54 on Friday. The company has a market capitalization of $1.92 trillion, a P/E ratio of 23.86, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $169.73 and its two-hundred day moving average price is $165.83. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,867 shares of company stock valued at $34,218,581. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

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.