FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.89 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,105 shares of the information services provider’s stock after buying an additional 134 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Alphabet were worth $1,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter valued at $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,570 shares of company stock worth $32,003,532. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.6%

Alphabet stock opened at $175.88 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business’s 50-day simple moving average is $164.57 and its 200-day simple moving average is $176.38. The firm has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 9.36%.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Westpark Capital reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $204.88.

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.