Amalgamated Bank Has $177.11 Million Stock Position in Alphabet Inc. $GOOG

Amalgamated Bank cut its position in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,406 shares of the information services provider’s stock after selling 47,460 shares during the quarter. Alphabet comprises about 1.4% of Amalgamated Bank’s portfolio, making the stock its 10th biggest holding. Amalgamated Bank’s holdings in Alphabet were worth $177,107,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. Nuveen LLC bought a new position in Alphabet during the 1st quarter worth $2,622,943,000. Vanguard Group Inc. increased its stake in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its stake in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio bought a new position in Alphabet during the 1st quarter worth $369,713,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. Jefferies Financial Group raised their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial set a $275.00 price objective on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Piper Sandler raised their price objective on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.0%

Shares of GOOG opened at $281.82 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The business’s fifty day moving average is $244.59 and its 200-day moving average is $200.98. 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 firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.