Amalgamated Bank Sells 23,706 Shares of Alphabet Inc. (NASDAQ:GOOG)

Amalgamated Bank cut its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,031,350 shares of the information services provider’s stock after selling 23,706 shares during the quarter. Alphabet makes up about 1.6% of Amalgamated Bank’s holdings, making the stock its 9th biggest position. Amalgamated Bank’s holdings in Alphabet were worth $196,410,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock worth $25,057,490 in the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Finally, Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOG opened at $172.22 on Friday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a 50 day moving average of $192.17 and a 200-day moving average of $177.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

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.