Alphabet Inc. (NASDAQ:GOOGL) Share ownership reduced by Citizens Business Bank

Citizens Business Bank has sold its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) fell 3.2% in the fourth quarter, HoldingsChannel reports. The company owned 62,429 shares of the information services company after selling 2,086 shares during the period. Alphabet comprises approximately 2.0% of Citizens Business Bank’s investment portfolio, making it the 10th largest stock. Citizens Business Bank’s holdings in Alphabet were worth $8,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also been buying and selling shares of GOOGL. Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services company valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC increased its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services company’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services company’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services company’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in Alphabet in the fourth quarter worth approximately $55,000. 40.03% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26. Mizuho raised their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26. JPMorgan Chase & Co. raised their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26. Loop Capital raised their target price on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, JMP Securities raised their price objective on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, April 26. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Read our latest analysis on GOOGL

Alphabet shares fell 1.1%

Shares of NASDAQ GOOGL opened at $169.38 on Thursday. Alphabet Inc. has a 52-week low of $107.19 and a 52-week high of $174.71. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.28, and a beta of 1.02. The stock has a 50-day moving average of $151.40 and a 200-day moving average of $142.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL – Get Free Report) posted its latest earnings results on Thursday, April 25. The information services company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company earned $1.17 in earnings per share. Sell-side analysts expect Alphabet Inc. will post earnings per share of 7.57 for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Shareholders of record on Monday, June 10 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 annually and a yield of 0.47%. The ex-dividend date is Monday, June 10. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that took place on Wednesday, February 21. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the transaction, the CEO now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which can be accessed via this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that took place on Wednesday, February 21. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the transaction, the CEO now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Director John L. Hennessy also sold 800 shares of Alphabet stock in a transaction that took place on Monday, February 12. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares in the company, valued at $1,072,665.72. The explanation of this sale can be found here. Last quarter, insiders sold 252,629 company shares worth $37,091,240. Currently, 0.88% of the shares are owned by corporate insiders.

About Alphabet

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia Pacific, Canada and Latin America. It operates through the Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Want to see what other hedge funds own on GOOGL? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

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