City State Bank Purchases 3,942 Shares of Alphabet Inc. (NASDAQ:GOOG)

City State Bank increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 41.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,487 shares of the information services provider’s stock after acquiring an additional 3,942 shares during the quarter. Alphabet comprises 0.9% of City State Bank’s holdings, making the stock its 25th biggest position. City State Bank’s holdings in Alphabet were worth $2,054,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $180.26 on Monday. The company’s fifty day moving average price is $171.61 and its 200 day moving average price is $154.11. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $182.51. The company has a market capitalization of $2.23 trillion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. 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:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,958 shares of company stock valued at $22,383,553. Corporate insiders own 12.99% of the company’s stock.

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.