Farmers Trust Co. Has $10.74 Million Stock Position in Alphabet Inc. $GOOGL

Farmers Trust Co. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,967 shares of the information services provider’s stock after selling 5,056 shares during the period. Alphabet makes up 2.0% of Farmers Trust Co.’s portfolio, making the stock its 7th biggest position. Farmers Trust Co.’s holdings in Alphabet were worth $10,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in shares of Alphabet by 2.0% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 8,577 shares of the information services provider’s stock worth $1,512,000 after acquiring an additional 167 shares during the period. Baring Financial LLC raised its holdings in Alphabet by 2.1% during the second quarter. Baring Financial LLC now owns 3,820 shares of the information services provider’s stock worth $673,000 after purchasing an additional 80 shares in the last quarter. Golden State Equity Partners lifted its position in Alphabet by 23.0% in the second quarter. Golden State Equity Partners now owns 52,453 shares of the information services provider’s stock worth $9,244,000 after purchasing an additional 9,809 shares during the period. Cherrydale Wealth Management LLC lifted its position in Alphabet by 1.1% in the second quarter. Cherrydale Wealth Management LLC now owns 8,890 shares of the information services provider’s stock worth $1,567,000 after purchasing an additional 95 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its stake in Alphabet by 42.0% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 55,366 shares of the information services provider’s stock valued at $9,757,000 after purchasing an additional 16,369 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.5%

Shares of NASDAQ:GOOGL opened at $245.79 on Friday. The firm has a 50 day simple moving average of $214.70 and a 200 day simple moving average of $182.46. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.97 trillion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $201.00 target price on shares of Alphabet in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $232.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. 11.64% of the stock is 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.