Alphabet Inc. (NASDAQ:GOOG) is FineMark National Bank & Trust’s 8th Largest Position

FineMark National Bank & Trust decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,922 shares of the information services provider’s stock after selling 1,736 shares during the period. Alphabet makes up about 1.6% of FineMark National Bank & Trust’s portfolio, making the stock its 8th biggest holding. FineMark National Bank & Trust’s holdings in Alphabet were worth $38,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares in the last quarter. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at about $4,101,040,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,935 shares of company stock worth $31,178,987. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock traded down $3.06 on Thursday, hitting $174.94. 10,743,236 shares of the company were exchanged, compared to its average volume of 21,976,863. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. The company has a 50-day moving average price of $160.98 and a 200 day moving average price of $147.60. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $179.95. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.7 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $165.67.

About Alphabet

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.