Amalgamated Bank Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Amalgamated Bank lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,031,350 shares of the information services provider’s stock after selling 23,706 shares during the quarter. Alphabet comprises approximately 1.6% of Amalgamated Bank’s investment portfolio, making the stock its 9th biggest holding. Amalgamated Bank’s holdings in Alphabet were worth $196,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOG. FMR LLC lifted its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after buying an additional 1,630,701 shares in the last quarter. Jennison Associates LLC lifted its stake in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares in the last quarter. Finally, National Pension Service lifted its stake in Alphabet by 14.0% in the third quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock valued at $1,655,772,000 after buying an additional 1,218,671 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,309 shares of company stock valued at $25,057,490. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

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 market cap of $2.10 trillion, a P/E ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. The firm’s fifty day moving average price is $192.17 and its two-hundred day moving average price is $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.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOG shares. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.13.

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.