Alphabet Inc. (NASDAQ:GOOGL) is CNB Bank’s 8th Largest Position

CNB Bank boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,095 shares of the information services provider’s stock after purchasing an additional 2,496 shares during the period. Alphabet comprises approximately 1.9% of CNB Bank’s investment portfolio, making the stock its 8th biggest holding. CNB Bank’s holdings in Alphabet were worth $3,993,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GOOGL. Saxon Interests Inc. boosted its holdings in Alphabet by 28.9% during the fourth quarter. Saxon Interests Inc. now owns 2,982 shares of the information services provider’s stock worth $565,000 after buying an additional 668 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Alphabet in the fourth quarter worth about $70,378,000. Wealthcare Capital Management LLC boosted its position in Alphabet by 12.7% during the fourth quarter. Wealthcare Capital Management LLC now owns 2,769 shares of the information services provider’s stock worth $524,000 after purchasing an additional 313 shares in the last quarter. Everpar Advisors LLC lifted its position in shares of Alphabet by 12.1% during the 4th quarter. Everpar Advisors LLC now owns 9,870 shares of the information services provider’s stock valued at $1,868,000 after buying an additional 1,064 shares in the last quarter. Finally, Tompkins Financial Corp grew its stake in Alphabet by 0.9% in the 4th quarter. Tompkins Financial Corp now owns 77,346 shares of the information services provider’s stock valued at $14,642,000 after acquiring an additional 690 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.6 %

Shares of NASDAQ GOOGL opened at $196.00 on Monday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The company has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $184.43 and a two-hundred day moving average of $173.34.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. On average, analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company 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.