Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Bremer Bank National Association

Bremer Bank National Association boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,694 shares of the information services provider’s stock after acquiring an additional 293 shares during the quarter. Bremer Bank National Association’s holdings in Alphabet were worth $2,452,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $27,000. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet during the fourth quarter valued at about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $170.37 on Tuesday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company’s fifty day simple moving average is $160.95 and its 200 day simple moving average is $176.24.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,270 shares of company stock worth $26,553,563. Company insiders own 12.99% of the company’s stock.

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.