AMG National Trust Bank Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

AMG National Trust Bank lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,644 shares of the information services provider’s stock after purchasing an additional 12,204 shares during the period. AMG National Trust Bank’s holdings in Alphabet were worth $14,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GOOG. Partnership Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Richardson Financial Services Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Alphabet during the second quarter worth about $37,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOG traded up $1.94 on Friday, hitting $167.43. 14,281,621 shares of the company’s stock were exchanged, compared to its average volume of 20,309,939. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a market capitalization of $2.07 trillion, a PE ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. The firm’s 50-day moving average is $176.34 and its 200 day moving average is $164.64.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm posted $1.44 EPS. The company’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $182.86.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 179,065 shares of company stock valued at $31,025,543. Insiders own 12.99% of the company’s stock.

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.