MidFirst Bank Takes Position in Alphabet Inc. $GOOG

MidFirst Bank acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,175 shares of the information services provider’s stock, valued at approximately $8,841,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new position in shares of Alphabet during the third quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. bought a new position in Alphabet during the fourth quarter worth $41,000. Towne Trust Company N.A increased its position in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in Alphabet during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares of the company’s stock, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,516 shares of company stock worth $7,344,604. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. Raymond James Financial restated a “strong-buy” rating and issued a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Needham & Company LLC set a $400.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Scotiabank reissued an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $376.78.

Alphabet Price Performance

NASDAQ:GOOG opened at $367.46 on Friday. The firm has a market cap of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $364.31 and its two-hundred day moving average price is $331.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $2.81 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.