M&T Bank Corp raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,122,899 shares of the information services provider’s stock after purchasing an additional 7,568 shares during the period. Alphabet accounts for 0.7% of M&T Bank Corp’s investment portfolio, making the stock its 29th largest holding. M&T Bank Corp’s holdings in Alphabet were worth $212,565,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. lifted its holdings in shares of Alphabet by 3.2% in the fourth quarter. Assetmark Inc. now owns 2,300,198 shares of the information services provider’s stock worth $435,428,000 after buying an additional 72,172 shares in the last quarter. Smithfield Trust Co lifted its stake in Alphabet by 1.1% in the 4th quarter. Smithfield Trust Co now owns 43,309 shares of the information services provider’s stock worth $8,214,000 after purchasing an additional 484 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Alphabet by 46.5% during the 4th quarter. J.Safra Asset Management Corp now owns 11,267 shares of the information services provider’s stock valued at $2,155,000 after purchasing an additional 3,574 shares during the last quarter. WoodTrust Financial Corp grew its position in shares of Alphabet by 32.4% during the fourth quarter. WoodTrust Financial Corp now owns 87,716 shares of the information services provider’s stock valued at $16,604,000 after purchasing an additional 21,490 shares in the last quarter. Finally, Oak Grove Capital LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $2,279,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of Alphabet 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 sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Cantor Fitzgerald cut their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, KeyCorp decreased their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.03.

Read Our Latest Analysis on Alphabet

Alphabet Stock Down 2.2 %

Alphabet stock opened at $160.67 on Wednesday. Alphabet Inc. has a fifty-two week low of $146.08 and a fifty-two week high of $207.05. The company has a market cap of $1.96 trillion, a PE ratio of 19.96, a PEG ratio of 1.34 and a beta of 1.02. 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 $184.35 and its two-hundred day simple moving average is $176.56.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Alphabet Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

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