Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,115,331 shares of the information services provider’s stock after selling 6,735 shares during the period. M&T Bank Corp’s holdings in Alphabet were worth $184,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Lantz Financial LLC lifted its position in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after purchasing an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC purchased a new stake in shares of Alphabet in the second quarter worth about $218,000. ERn Financial LLC boosted its stake in shares of Alphabet by 2.5% in the second quarter. ERn Financial LLC now owns 17,011 shares of the information services provider’s stock worth $3,098,000 after buying an additional 416 shares during the last quarter. Evolution Wealth Advisors LLC grew its holdings in Alphabet by 28.4% during the second quarter. Evolution Wealth Advisors LLC now owns 14,133 shares of the information services provider’s stock worth $2,577,000 after acquiring an additional 3,129 shares during the period. Finally, Old Port Advisors raised its position in Alphabet by 2.9% during the second quarter. Old Port Advisors now owns 16,483 shares of the information services provider’s stock valued at $3,002,000 after acquiring an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $191.41 on Friday. The company’s 50-day moving average is $174.55 and its two-hundred day moving average is $171.33. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. 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 firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm posted $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred 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 owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is currently owned by insiders.

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.