Farmers Trust Co. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Farmers Trust Co. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,872 shares of the information services provider’s stock after acquiring an additional 418 shares during the quarter. Farmers Trust Co.’s holdings in Alphabet were worth $480,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Richardson Financial Services Inc. purchased a new stake in Alphabet in the fourth quarter worth approximately $34,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter worth $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter valued at $44,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock valued at $35,922,911. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.1 %

Shares of GOOG stock opened at $167.21 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day simple moving average of $163.53 and a two-hundred day simple moving average of $168.49. The firm has a market capitalization of $2.07 trillion, a PE ratio of 25.65, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Pivotal Research began coverage on shares of Alphabet in a report on Tuesday. They issued a “buy” rating and a $215.00 price objective on the stock. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.75.

Alphabet Profile

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.