Amalgamated Bank Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Amalgamated Bank boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,055,056 shares of the information services provider’s stock after buying an additional 3,758 shares during the quarter. Alphabet accounts for about 1.5% of Amalgamated Bank’s investment portfolio, making the stock its 9th largest position. Amalgamated Bank’s holdings in Alphabet were worth $176,395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sentry Investment Management LLC lifted its holdings in shares of Alphabet by 7.4% during the 3rd quarter. Sentry Investment Management LLC now owns 26,145 shares of the information services provider’s stock valued at $4,371,000 after buying an additional 1,812 shares during the last quarter. United Advisor Group LLC grew its position in Alphabet by 50.5% in the 3rd quarter. United Advisor Group LLC now owns 4,908 shares of the information services provider’s stock worth $821,000 after purchasing an additional 1,646 shares during the last quarter. ASB Consultores LLC lifted its position in shares of Alphabet by 2.1% in the 3rd quarter. ASB Consultores LLC now owns 5,710 shares of the information services provider’s stock worth $955,000 after acquiring an additional 119 shares during the period. James J. Burns & Company LLC raised its stake in shares of Alphabet by 1.3% in the third quarter. James J. Burns & Company LLC now owns 15,639 shares of the information services provider’s stock valued at $2,615,000 after purchasing an additional 198 shares in the last quarter. Finally, FSM Wealth Advisors LLC boosted its stake in Alphabet by 4.5% during the third quarter. FSM Wealth Advisors LLC now owns 18,282 shares of the information services provider’s stock worth $3,057,000 after buying an additional 789 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GOOG shares. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $171.41 on Wednesday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a market cap of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The business’s 50 day moving average price is $163.97 and its two-hundred day moving average price is $170.83. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 10.61%.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,552 shares of company stock worth $34,433,848. Corporate insiders own 12.99% of the company’s stock.

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.