NBT Bank N A NY Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

NBT Bank N A NY lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 252,723 shares of the information services provider’s stock after selling 995 shares during the period. Alphabet comprises about 2.8% of NBT Bank N A NY’s holdings, making the stock its 4th biggest position. NBT Bank N A NY’s holdings in Alphabet were worth $38,143,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. RWQ Financial Management Services Inc. increased its holdings in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management raised its holdings in shares of Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after acquiring an additional 76,410 shares in the last quarter. Robbins Farley raised its holdings in shares of Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after acquiring an additional 118 shares in the last quarter. CKW Financial Group boosted its position in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after acquiring an additional 760 shares during the last quarter. Finally, Quantum Financial Advisors LLC grew its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 276,511 shares of company stock valued at $41,234,695 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL traded up $0.86 during mid-day trading on Monday, hitting $176.92. 22,542,007 shares of the company traded hands, compared to its average volume of 30,148,719. The stock’s fifty day moving average price is $158.00 and its 200-day moving average price is $145.64. Alphabet Inc. has a one year low of $115.35 and a one year high of $178.77. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the company posted $1.17 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several equities research analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Evercore ISI lifted their price objective on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. KeyCorp raised their price target on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Oppenheimer upped their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.