First Financial Bank Trust Division Sells 1,639 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Financial Bank Trust Division cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,646 shares of the information services provider’s stock after selling 1,639 shares during the period. Alphabet accounts for approximately 1.5% of First Financial Bank Trust Division’s portfolio, making the stock its 16th largest holding. First Financial Bank Trust Division’s holdings in Alphabet were worth $16,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Trust Co of the South grew its position in Alphabet by 35.3% during the fourth quarter. Trust Co of the South now owns 5,045 shares of the information services provider’s stock worth $955,000 after buying an additional 1,316 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in shares of Alphabet by 25.1% during the 4th quarter. Global Wealth Strategies & Associates now owns 2,303 shares of the information services provider’s stock valued at $436,000 after acquiring an additional 462 shares during the last quarter. Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. SK Wealth Management LLC bought a new position in shares of Alphabet in the third quarter worth approximately $331,000. Finally, JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Tigress Financial boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, JMP Securities lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $206.69.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,519 shares of company stock worth $27,734,316 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.0 %

NASDAQ:GOOGL traded down $0.03 during trading hours on Thursday, reaching $189.27. 15,816,297 shares of the company traded hands, compared to its average volume of 27,460,176. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.10, a P/E/G ratio of 1.39 and a beta of 1.01. The business’s 50-day moving average price is $179.17 and its two-hundred day moving average price is $172.28. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is 10.61%.

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.