Alphabet Inc. (NASDAQ:GOOG) is Amalgamated Bank’s 7th Largest Position

Amalgamated Bank reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,235,668 shares of the information services provider’s stock after selling 82,204 shares during the period. Alphabet comprises approximately 1.4% of Amalgamated Bank’s investment portfolio, making the stock its 7th largest position. Amalgamated Bank’s holdings in Alphabet were worth $174,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $11,600,970,000. FMR LLC boosted its stake in shares of Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. Cerity Partners LLC grew its holdings in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $0.53 during trading hours on Friday, reaching $168.99. The stock had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. The firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $104.70 and a fifty-two week high of $176.42. The firm has a 50-day moving average of $150.99 and a 200-day moving average of $143.49. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during 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%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.