FineMark National Bank & Trust Sells 1,736 Shares of Alphabet Inc. (NASDAQ:GOOG)

FineMark National Bank & Trust lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,922 shares of the information services provider’s stock after selling 1,736 shares during the period. Alphabet accounts for 1.6% of FineMark National Bank & Trust’s portfolio, making the stock its 8th largest holding. FineMark National Bank & Trust’s holdings in Alphabet were worth $38,181,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,935 shares of company stock worth $31,178,987. 12.99% of the stock is owned by company insiders.

Alphabet Stock Down 1.7 %

Shares of GOOG traded down $3.06 during mid-day trading on Thursday, hitting $174.94. 10,743,236 shares of the company traded hands, compared to its average volume of 21,976,863. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $179.95. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.16 trillion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. The business has a 50 day moving average of $160.98 and a 200 day moving average of $147.60.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.7 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

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