Alphabet Inc. (NASDAQ:GOOGL) is FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s 7th Largest Position

FARMERS & MERCHANTS TRUST Co OF LONG BEACH decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 62,357 shares of the information services provider’s stock after selling 4,519 shares during the period. Alphabet accounts for about 2.9% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 7th largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Alphabet were worth $11,358,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOGL. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC raised its position in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC lifted its holdings in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after buying an additional 64 shares during the period. Finally, Sunflower Bank N.A. raised its stake in Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after buying an additional 65 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOGL opened at $162.29 on Wednesday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm’s 50 day simple moving average is $163.80 and its two-hundred day simple moving average is $166.17. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Mizuho increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,867 shares of company stock worth $29,878,106. 11.55% of the stock is currently owned by insiders.

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.